Trade Thesis:
Short Dow Transports
The name is showing price weakness as it is wedged between 8 Day and 21 Day Moving average.
I will be monitoring this to see how the trend plays out.
Confirmations:
1. Lower lows and lower highs on Day chart
2. Lower lows and lower highs on Week chart
3. Below 8 Day EMA
4. Doji indicating price indecision on Week chart
Trade:
Short
IYT
Short Dow Transports
The name is showing price weakness as it is wedged between 8 Day and 21 Day Moving average.
I will be monitoring this to see how the trend plays out.
Confirmations:
1. Lower lows and lower highs on Day chart
2. Lower lows and lower highs on Week chart
3. Below 8 Day EMA
4. Doji indicating price indecision on Week chart
Trade:
Short
IYT
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.