Posted by frtaylor on 21st of Oct 2022 at 09:15 am
Steve, would you comment on the transports daily chart? To me it
looks terrible, like a textbook bear flag, especially compared to
the other sectors and the market indices. OTOH, it did not make a
new low like the market did on Oct 13.
Posted by frtaylor on 21st of Oct 2022 at 09:34 am
Thanks to both. Yeah, the transports should make for a good
short on a pattern, given the likelihood of a recession.
Maybe on the C wave bounce the IYT will go up to the top of the
bear flag for a good entry.
On IYT - I count 5 waves down (forming a divergent low) followed
by a bounce just like the SPX (and other sectors). Prefer to
see more time for a pattern to emerge.
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Steve, would you comment on
Posted by frtaylor on 21st of Oct 2022 at 09:15 am
Steve, would you comment on the transports daily chart? To me it looks terrible, like a textbook bear flag, especially compared to the other sectors and the market indices. OTOH, it did not make a new low like the market did on Oct 13.
Thanks to both. Yeah, the
Posted by frtaylor on 21st of Oct 2022 at 09:34 am
Thanks to both. Yeah, the transports should make for a good short on a pattern, given the likelihood of a recession. Maybe on the C wave bounce the IYT will go up to the top of the bear flag for a good entry.
fundamentals are clearly negative: FDX,
Posted by te22 on 21st of Oct 2022 at 09:22 am
fundamentals are clearly negative: FDX, CSX, JBHT, KNX, plunge in transport rates and volumes - all pointing down.
On IYT - I count
Posted by steve on 21st of Oct 2022 at 09:19 am
On IYT - I count 5 waves down (forming a divergent low) followed by a bounce just like the SPX (and other sectors). Prefer to see more time for a pattern to emerge.