What a long strange trip its been (Grateful Dead). IYT has completed a bullish head and shoulders bottom formation. Note the red arrows point to windows open on IYT ride up. The windows can provide price levels on IYT ride down, windows get closed. Other indicators appear extended a exhale is healthy. Black gold higher levels could provide some head wind as well.
Note
The clip below shows one of the components in IYT. Note the windows left open, read arrows. So they get closed?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.