IYT

I was watching IYT as of yesterday, I saw it gapped down this a.m. and set some alerts for price to move back in to this morning's gap, it has done so. IYT already has some rot set in, this is what I was hoping to see yesterday so this is one I would keep on the radar/watchlist today.

 IYT -Transports intraday 1 min

This is the 2 min chart from yesterday's run.

I'd like to see IYT's price remain around this area and these charts continue to degrade, if that happens, I'd consider IYT for a new short or add to short position.

I doubt it will take long to find out at the speed it started falling apart yesterday.