DOW Transportations Update II : Correction May Be Over

On the weekly chart of DOW Transportations index we can see that market has been trading bullish since the star of 2012. It has already made four waves up, with blue wave 4 in final stages. On the Daily chart we see that price made a new leg down in blue wave (c), thus completing the correction in red wave y of blue wave 4. But still Blue wave (c) may continue to the downside, if we include the possibility of ending diagonal in blue wave (c). Nonetheless price may turn higher in weeks ahead.
When market will reach a new high with blue wave 5 we will be looking for a larger corrective retracement, probably later this year.

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