Don't Ignore This Chart!

The Transports ETF (IYT) Struggles To Hold A Breakout

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The Transportation ETF (IYT) is struggling to hold the recent breakout.

The new three-month lows in Relative Strength in purple suggest being very careful with the Transportation stocks here after failing to hold the breakout above December highs. In this roaring bull market, Transports have traded sideways since Commodities spiked on December 8th.

For newcomers to StockCharts.com, Intermarket Analysis through charts is one of the bigger advantages for looking at the stock market differently than Price Earnings ratios. I spent a considerable amount of time on the Commodities Countdown weekly video article 2017-02-23 laying out some of the interesting Intermarket signals that have shown up in the last two weeks. You can read more about these signals on the Commodities Countdown blog titled Commodities: The Moment Of Truth Has Arrived.

If you would like to learn more about Intermarket Analysis, members have access to 'Members Content' from Martin Pring, John Murphy, Arthur Hill. Erin Heim also hosts a wide variety of Member's Access Content through Decision Point analysis methodology. Click here to take a one-month free trial

Have a great weekend!

Good trading,
Greg Schnell, CMT, MFTA. 

 
 

Announcement from the Author

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Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the Market Technicians Association (MTA) and the International Federation of Technical Analysts (IFTA).

Greg is also the co-author of Stock Charts for Dummies (Wiley, 2018). Greg joined StockCharts.com in 2012 and has be instrumental in helping launch a variety of new blogs and other commentary platforms. Presently, Greg contributes market analysis commentary to The Canadian Technician, Commodities Countdown and Don't Ignore This Chart blogs. Learn More
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