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IYT, the ETF for Transportation has stalled after completing a harmonic pattern, a Bearish Butterfly. I’m looking at an intraday perspective and in this case, using an STRange 50 bar chart. The Butterfly completed at 143.76 then jammed up in … Continue reading
IYT, the Transportation ETF, has harmonic PRZ’s calling price higher but there are obstacles that need to be addressed. The Day chart shows there’s an emerging Bearish Shark PRZ at 172.94, there’s also a cyan colored triangle seeking its midpoint … Continue reading
IYT, the Transportation ETF, has breached below a very important support test at 128.26 to complete a harmonic pattern, an Alternate Bat. This offers buyers a place to step in, will this stop sign be a turn around point or … Continue reading
The Transportation ETF, IYT shows an attempt to retest 152.40 providing an important Fibonacci level at 151.27 fails to hold as resistance. Although I would not suggest a trader trade another market like the S&P Emini Futures looking at another … Continue reading
The ETF for Dow Jones Transportation has been in an uptrend since November 2012 and in an uptrend channel since March 2013 and is currently testing the extreme of the channel resistance trendline accompanied by a measured move extension Fibonacci level … Continue reading