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The DJ Transport Index is an important chart in measuring how strong the general economy is. When the transport of goods chart goes up, it signals that the economy is growing, and when it goes down, it means the economy is shrinking.
The chart is also a leading indicator to potential trend changes, especially in the stock markets. There are several instances in the past where the DJ Transport chart changed trend before a similar trend change in the wider stock markets.
Not only has the index broken out of a four-month downtrend, but also through the key 15,700 resistance level. A bull flag pattern has formed over the last two weeks, and today, we see that the bull flag has been broken to the upside.
This massive bullishness in the Transport Index chart, not only signals a growing economy, but it could also be a leading indicator of what to expect from markets going forward.
You can find all of Sheldon’s entries, take-profit zones, key support, and resistance areas by signing up to CoinPanel, where over 30 unique charts are regularly updated with all the key levels to watch out for.