I have now moved to a net short in djt using IYT We have the etf forming a double top as the cash made a new high .This is very neg going forward FOR ALL INDEXES .USE PUTS FOR MARCH TO MID SUMMER AT THE MONEY
Little late to the party on this one. Starting in May 2021 the transports started to diverge from broad market indices. Over the last two weeks that divergence has reversed a bit, but worth keeping an eye on this.
I originally spotted daily trend reversal few months ago (see my linked post). Price since May have been moving in down sloping channel. I expect price to keep declining:
$231 - minimum price target
$213 - most likely scenario
$197 - also very possible, but price might not dip that low. Would be an amazing buying opportunity.
On weekly chart there is 50 DMA...
Bad news aside, IYT is what pushes the DOW to 37k. IYT got pummeled back in June losing alot of ground. Airlines and Railroads have finally found their footing, basing, and slowly climbing up this past week. IYT to 300 soon!
Transports tend to lead the markets. and this is a very key level. looking on a monthly time frame You can see transports just hit the top of the trendline that dates back to 2009. In the instance every time market either cooled down or sold off fairly sharply. is the parabolic move over? Transports might be the key to tell us it is. I am currently short IYT and...
Transportation segment have been printing lower lows since early May as SPY still slowly going up. Typically transportation segment is leading indicator of overall economic activity. Immediate price support is on 200 MA, around $253. I’m watching closely how SPY and IYT will behave next few weeks.
Transportation ETFs with exposure to U.S. airline, railroad, and trucking companies indicates the flow of goods across the world. When this etf preforms well it signals that people are ordering packages, tourists are traveling, supermarkets are buying food, industrial companies are receiving building materials, consumers are receiving electronics and equipment,...
just doesn't look healthy. Zero price discovery buy-everything market, f*ker is going vertical and using anything & everything as an excuse to do so. All greed & no fear. Vix tanking to a new low. Shit is getting really scary. May 21 270 put, buying another when it touches $281.21 - which could easily be in a few hours. That said, looks like it's evaluating based...
Transports haven't rallied like this since the Roaring 20's. I'm seeing some blatant money grabs going on in the IYT, names like CAR, a turd rental company reporting negative earnings and up 500% since pandemic lows, stupid chases into cruiselines, etc. The shit is not real, this economy is not that good, business travel will likely never come back pre-pandemic,...
20sma is being supportive, but it is recommended to keep your stops somewhat below the average.
A close below $190 would be a bearish warning.
The broad market has been taking a downturn over the past week. The Transportation industry has been consolidating, showing relative strength over the rest of the market.
While the white house...
IYT Transport Golden cross on Aug 21, looking for continuation. You can see the accumulation candles in the chart. The top 4 holdings are FDX, UNP, NSC and KSU, which make up over 40% of ETF. Using seasonality charts, IYT in sept is up 2.5% the past 4 years.
We saw on Friday the nasdaq declining while the Russell was pretty strong.
I think the narrative for the next 2-3 weeks will be that financial and transportations stocks outperform tech stocks .
We can see on the chart how the bottom has formed and that these stocks will now catch up.
I see continuation and strength on these stocks while the nasdaq takes a pause .
1. Year - Outside Year to the downside, One bar Rev Strat down
2. Month - Inside month and down, Potential one bar Rev Strat down
3. Weekly - Shooter counters hammer weekly,
4. Full Time Frame Continuity to the downside.
Short: 144.78 x 148.89