Don't Ignore This Chart!

Networking iShares Break Channel Support

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The Networking iShares (IGN) shows relative weakness with a lower high in March and channel break the last few days. Relative weakness is also reflected in the price relative (IGN:SPY Ratio), which did not come close to its February high and remains in a downtrend.  

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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