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Tuesday, December 05, 2017 3:02:57 PM
IYT Transportion ETF 2-Year Bull Nearing Top
By: MPTrader | December 5, 2017
The BIG BIG picture technical set up of IYT (Transportation Index ETF) is very interesting technically because we can make the case that the entire upleg off of the Jan. 2016 low at 114.91 is nearing completion.
Bottom Line: in the absence of immediate or near term weakness off of yest.'s high at 189.68 that presses IYT beneath 182.90, which will trigger initial signals that a significant high has been established, IYT points higher into the 196-201 target zone to end a near two year bull phase. From a trading or investment perspective, it would appear that IYT offers at most about 5% more upside prior to rolling over into a major correction.
https://www.mptrader.com/middaymarkets/
• DiscoverGold
(Disclosure: I do not own IYT shares)
Click on "In reply to", for Authors past commentaries
By: MPTrader | December 5, 2017
The BIG BIG picture technical set up of IYT (Transportation Index ETF) is very interesting technically because we can make the case that the entire upleg off of the Jan. 2016 low at 114.91 is nearing completion.
Bottom Line: in the absence of immediate or near term weakness off of yest.'s high at 189.68 that presses IYT beneath 182.90, which will trigger initial signals that a significant high has been established, IYT points higher into the 196-201 target zone to end a near two year bull phase. From a trading or investment perspective, it would appear that IYT offers at most about 5% more upside prior to rolling over into a major correction.
https://www.mptrader.com/middaymarkets/
• DiscoverGold
(Disclosure: I do not own IYT shares)
Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
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