The following is just a small excerpt from my latest Weekly Strategy Session (please click on that hyperlink for details about trying it out). which I published for members and 12631 subscribers this past Sunday.
As resilient as the transportation stocks have been, it is worth noting the “shooting star” potential bearish reversal candlestick printed for the month of July on the monthly chart of the Dow Jones Transportation Average. Further weakness in August would go a long way to confirming this potential major change in trend. True, there have been plenty of false topping candlesticks along the way higher in this ferocious bull run, but after a steep uptrend on this monthly chart we would be remiss not to pay close attention to this one.
Also pay attention to the likes of FEYE SPLK, two growth stocks which got decimated this spring. After multi-month, grinding rallies, if they now roll back over for another leg down it is another huge warning sign for the broad market.
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Chess
Thanks on the WWAV reco recently