Market Brief
by Christopher M. Quigley, B.Sc., M.M.I.I., M.A., WealthBuilder.ie | November 3, 2009
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The two charts above of the Dow Transports and The Dow Industrials indicate that there is the possibility of
a Dow Trend change. The trend altered on the transports over the last three days but is unconfirmed at the moment by the Industrial 30.
If the DJ 30 falls by another 360 points then this will be the first change in trend since this rally commenced in March of this year. This movement was tested once before on July the 9th. Then the industrials were the weaker of the party. Now it is the turn of the transports to lead.
Because in July there was no confirmation by the Transports I stayed with the trend as dictated to by the rules.
Should the 9430 position on the Industrials be broken it will be a trend sell signal.
However the momentum behind the Industrials is very strong and I am not convinced it will break but I will let the market speak for itself. I am open-minded but prepared.
Copyright © 2009 Christopher M. Quigley
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Christopher M. Quigley, B.Sc., M.M.I.I., M.A. | Dublin, Ireland | Email | Website
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