US Marine Transportation Index (DJUSMT)

[ospreyeye]

$DJUSMT Chart: Buy signal confirmed Fri.......Bullish Harami reversal pattern formed on Thurs........Fri.'s green candle and higher closing share price confirmed the Buy signal.......nice MA(100) support.......very similar to the 2nd week of Oct......MA(50) is the first resistance level to break........Oversold on Full Sto & coming off Oversold on Fast Sto.......plenty of juice to run.......if MA(100) support breaks there's a good chance MA(200) @ 287.03 will be tested.........

Be Cautious......looks like a possible Triple Top has formed.....the 2nd week and last week of Nov. & the 1st week of Dec. have formed a possible triple top........$DJUSMT must break the 319-320 resistance zone in order to prevent a downtrend........been tracking this Index for quite some time........if the upper BB isn't penetrated and broken there could be a correction on the Marine Transportation Index.......

We are headed into the new year........sector favoritism will change.........losers will become winners & some winners will become losers.........track the major indices.......look for changes in trend........when support breaks and resistance fails to break watch out for a correction........investors look for value.......Oversold stocks can be great targets for value.......alway's go for best of breed 1st then hunt down the laggards........

good luck......& happy hunting..........$$$