DJ Transports Ishares -IYT -Daily - Nearly half-way back bounceITY is nearly back up to the half-way back level here. The 50% speed-line is the dotted line pushing down on the price here, giving us a reference line for a drop off the high at half-the-speed of the drop to the low.
Ebola scare softening?
Falling oil prices helping?
Options expiration forcing shorts to cover?
Weakening economic forecasts might take another swipe at the DJ Transports in the next week. I think it makes sense to put out shorts here and look for a retest.
Tim 11:11AM Friday 145.80 +2.06 last IYT
