Tuesday Sept 28 2021
Transports which typically lead a change in trend - topping May 10
Industrials topping August 16
Utilities topping Sept 2
this makes sense in that we noted a Dow theory divergence as Transports fell and Industrials rose to a new high. Note the strong sell off in Utilities.
Transports and Utilities are already on their 200 say MA and will soon be joined by Industrials.
The Industrials retraced
61..8% of the recent decline from the aug 16 top. Next week should bring a much larger fall if in fact it is not already underway.
I had a couple of conversations with investors already this week. Neither seems to be aware of the impending change or already change in trend.
We noted yesterday that dollar volume in options now exceeds dollar volume in actual stock trading, a truly amazing statistic.
Comments