It seems that the run-up of the most important indexes is coming to a halt. Based on the 60-minute renko chart, we are alerted that the upward trend is broken and we are experiencing a kind of consolidation/correction. As we are prudent we are going for the former first, before we switch to the latter if more undoing of the rally becomes clear. We pay attention though: it’s month end. Never a good point to set-up positions if you’re not a daytrader.
As an illustration we show the Dow Jones Transportation index (ticker: TRAN):
As an illustration we show the Dow Jones Transportation index (ticker: TRAN):
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