Dow Jones Transports. [$DJT]

Not all of the Dow Jones indices are looking as strong as the DJIA.  In fact, the utes are looking very bearish having just put in 5 waves down.  It's very likely game over for the utes already from an EW perspective.  Now we just have to see if they will fall in a Prechter collapse or just an a-b-c Avi pullback to wave 4.
 
For the record, while I might have mentioned the transports a few times before in this blog, this is my first dedicated post on them ever.  It is not a coincidence that I decided to post on them at this time.  I model they have peaked and are likely headed down into next week.  The eventual pullback should be at least 2000 points, best case (Avi's model) but the damage will be much, much worse if Prechter's model wins the day.

Here is the top level chart.  Note how blue 5 was almost exactly the same length as blue 1.  Note the clear alternation between waves 2 and 4.  Note the inability to hit a higher high even though $COMPX, S+P and DJIA have all hit higher highs.

Zooming in, the count is as below.  In the most recent wave up that began in early Feb, we know this is not just 3 of 5 because what would have been wave 4 fell into the range of wave 1.  A break out above the green line would negate this model and so you can see that stops can be set very tightly betting against this index.  Anything above 9170 means that this particular model is wrong.