Charts courtesy of StockCharts.com
To put the Dow’s position in perspective, it has dropped out of the rising wedge that was developed during 2021. Based on short term algorithm calculations the Dow is expected to move back up to the lower trend line before starting a meaningful decline. A leading indicator for the Dow is the Dow Jones Transportation Average. A decline in the Transportation average did start early during 1998 and 2007 prior to the Dow falling. It appears a steady decline in the Transportation average has started with the Dow not far behind