The AMEX:IYT ETF, which is currently at a critical trend line support level. This pivotal juncture could very well influence the ETF's directional bias in the short to medium term.
For those looking at potential entry or exit points, this may present an ideal moment to reassess your positions and investment strategies involving $IYT. Trend line support levels...
MACRO MONDAY
Dow Transportation Average Index DJ:DJT
The Dow Jones Transportation Average (DJT) is a price-weighted average of 20 key transportation stocks traded in the United States.
The transportation sector acts as a leading indicator as it is further up the value chain ahead of the final products being sold by companies in Dow Jones Industrial Average...
- AMEX:DJIA has managed to raise up in price for three consecutive days.
Resulting a break-out from Neutral Triangle Pattern,
aswell Shifting Character from it's most nearest high
1:17 Risk -to- Reward Ratio call given inside on break-out day.
17% gains to be met overtime as long uptrend resumes on Market Structure.
This is very well co-dependent on whatt...
DTX looking prime for a drop to sub $350 longt term, when this correction is over! After a little dead cat bounce and continuation to the down side. All of my 4 indicators showing bearish confirmations on the Monthly Time Frame. Don't believe the misinformation on the news blaming this on the war in Ukraine! All this mess was caused by your government's money...
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A scan of my leading indicators show that 4 out of 4 have topped out and are in clear reversal/retracement mode. Candlestick patterns and technical indicators suggest so.
While this is happening, we see more all time highs being clocked on seasonally low volumes.
Clearly something is amiss and divergence is about to converge...
CAVEAT EMPTOR!
