IYT trannies weekly chart showing the overbot conditions, rising wedge, negative divergence, and as if that was not enough to create a spank down, IYT posts a doji candle at the peak signifying a trend change. Now under the 20 MA at 91, IYT will remain sick if this condition continues.
The previous high volume candles provide a target channel range of 77 to 87 moving forward, thus, the test at the 87-89 support area is important. The Dow Theory perspective should also be considered. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.