Transports Are Done With A Multi-decade Impulse There may be an extended 5th, but that's not looking to be the case. This is tech analysis only, no fundamentals were taken into account.
IYT trade ideas
IYT DojiJust noticed this...
Airlines were in the red today, FedEx looks topped out (gap resistance). IYT threw a doji with what looks like an exhaustion gap. No position yet, but looks to be a good short.
Possible Bear Flag in $IYTI continue to be cautious, but this could be an early tell on how this market breaks (higher or lower).
IYT crashed threw yearly open this weekRail Roads are now negative for the year. That is something to take note. Transports are suppose to lead bull markets not lead to the down side. Likely more pain this week and into Dec.
IYT Extremely extended Longer TermIt's be a historic long run for this bull market. The monthly fib fans have continued hire actually along a bearish fib fan. We might be drifting away from the long term trend and breaking the shorter term up trend right here. This is one of the critical market signals. Technically, I think this is ready to roll. The whole tariff talk has helped drive transports with business building up inventories ahead of the implementation. I am not calling it a short yet but going into Christmas is a likely time where Transports retreat.
IYT going to cross fib fan zone start of MonthLikely to see some profit taking this week. I am bullish this market but I see lots of reasons for short term exhaustion.
Alert: Dow Transports $IYT Stall And BreakdownThe Dow Transports (IYT) are catching the eye of pro trader today because of a significant break lower. The iShares Transportation ETF (IYT) broke below the daily 20 moving average on higher than average volume. In addition, the breakdown has taken the transports below the January 2018 pivot high. This move below is a major indicator of trouble for the overall market. Pro traders are keeping a close eye on the transports for the remainder of the day and discussing getting much more defensive. The transports are looked at as a major leading indicator for the domestic economy. A sharp drop in the transports will likely signal a coming drop in the stock market.
AMEX:IYT
Gareth Soloway
IYT here is an upside tgtLooks like IYT has a little more room next week. I am looking for a real strong day into the measured move and then sharp drop for a technical top. STILL FUEL IN THE TANK
IYT in nose bleed area but holdingJust want to note, not much volume up at these all time highs yesterday. Not a whole lot of selling pressure. Likely indicating continuation higher.
IYT: Bullish breakout on Transport ETF?The Transport ETF, IYT, looks to have made a Bull Flag breakout.
Price action is still pegged by the recent High resistance zone of $207 for now though so watch for any new make or break from there.
The Flag pole height here is about $80 and so technical theory would suggest that any bullish continuation might extend by that amount.
Keep an eye on the $207 level!
A round up of how I'm seeing charts of global stock index majors can be found through this link: www.tradecharting.com
UPDATE: Most are foaming at the mouth with transports, SELL IYTHi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
Outside barMassive bearish outside bar (aka engulfing) pointing to continuation of the small down trend. At the same time a pennant is also being formed. That being said I have been burnt going short in this market before (not the same sector though) and I'd really need strong reasons to go short.
To be specific, in $IYT chart a strong demand zone is at around 182 which limits the space for a short trade right now.
$IYT - Dow Transports - Short 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
$DJT ($IYT) leading $RUT ($IWM)?#Russell seems to have made a top, transports following (small) industrials first? #Dowtheory
IYT - ObserveMoves very nice in the fork with a little shift to the upside (see arrows).
Path of price is up - Looking to buy lower...observe it.
P!
IYT lead market sell offsI am not seeing it. Actually, IYT is suggesting higher move next week when LXP reports earnings. Transports are not confirming market weakness yet.
