US Marine Transportation Index (DJUSMT)

[ospreyeye]

"DJUSMT must break the 319-320 resistance zone in order to prevent a downtrend"........the close above 320 on the 19th was signal a breakout was coming........on the 20th the US Marine Transportation Index soared on Massive Volume.......nearly 80 million in volume..........very sweet breakout........if you are the play it safe type investor the call would have been to go long on Thursday the 19th.........whenever you see a solid resistance line get tested a couple of times then finally breaks w/ a "CLOSE" above that level you'll know it's Showtime!.........great scan.........for some it's not about best price, but best chance of making a successful trade w/ least amount of risk.........remember, DJUSMT is an Index........scan the US Marine Transport Sector.......best of breed runs 1st & the laggards follow.........all this said, DJUSMT has been on a 9 day run.......@ some point it will take a breather.......once again the key level will be 320 ......it was major resistance.........it should now be support..........look to reload @ that level on a pullback..........not ironically or coincidentally MA(7) @ 323.75, MA(10) @ 318.47 & MA(20) @ 317.56 are the next support levels........the daily chart is perfectly set up for a retrace back to the prior resistance level...........sweet run......looking for an extended bullish move for this sector next year..........$$$