Monday, July 15, 2013

Transports

This is the other because not only does IYT look horrible, but it's counterpart the Dow-20 looks exactly the same.

However this is a bigger pattern, I already have a partial position in place, I think the right thing to do is to be patient as much as I really want to get this underway, we're on Mr. Market's schedule.

I think the ascending (bullish Technical price pattern) triangle is just too well formed and there for a reason, as you can see on a 30 min chart and as I said before I have about 5% doubt that it's not a head fake move when it goes which is about 80% probability. So I'll wait here.


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