Wednesday, June 18, 2014

IYT Trade Idea Follow Up

Yesterday I featured a pretty extensive set of charts for IYT, Trade Set-Up (longer Term ) IYT/Transports which is one of several stocks from last week that looked good for a trade if it came to us which I suspected IYT (Transports) would, thus yesterday's charts as it looked as it it would bounce from yesterday's small base-like area.

Today it has made that bounce and gap...

Here's this morning's gap up, I'd like to see increasing volume and a doji or star closing daily candle for an entry, be sure to see yesterday's charts if you're not familiar with the trade idea and might be interested.

As far as an opening/entry, I'll be looking to shorter term charts to turn from the positive/bounce divergence.


No comments: