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Strategies & Market Trends : Zman Market Timing
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From: Return to Sender3/21/2016 4:38:57 PM
1 Recommendation

Recommended By
mary-ally-smith

   of 15903
 
Better shorting ahead?

The Dow Transports look like they may be topping out on this particular move. They started higher before the rest of the market weeks ago. It's been a very impressive move higher but look at any chart of the major averages and you will find that the volume that began this move higher was low volume. That's not what we usually see on a sustainable rally. I would feel more sure of that if the volume today had been higher but Friday was an option expiration session that had plenty of volume:



That is lower volume than the immediately preceding downside volume. It's true that one should almost never short a dull market but even low volume moves end up ending regardless of what direction they are moving in.

The weekly chart and monthly charts show how truly questionable this move has been:





JMHO, RtS
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