novvoll12
Short

IYT 144.40-bearish- Declines within a 4-month falling channel

AMEX:IYT   ISHARES TRANSPORTATION AVERAGE ETF
iyt
5 0 0
iyt
IYT             has staged a steady decline within a 4-month channel (from March 2015 high) towards the 142.72 low (April 8, 2015). Below would expose the 141.91 range target (as shown on the daily chart ) and the 137.05 key low (October 15, 2014). The 146.35 high (July 24, 2015) should cap near-term bounces. Above 146.35 would re-focus the 149.87 resistance. Only above there would stabilize.
Outlook:
Short term: bearish
Long term: bearish
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