The Transports Bottomed
- Posted by UpsideTrader
- on March 15th, 2012
The other night, I did a post about the power of trendlines, specifically “uptrend” lines that were broken, leading to much lower prices. Tonight, the focus is on downtrend lines that get broken to the upside. Very powerful, especially if the trend line is broken with significant volume.
There is no better example of a downtrend line reversal than what happened today with the transports. $IYT exploded today, broke its downtrend line with massive volume.
The actual ETF for the transports is highlighted above, with specific stocks within that group listed below. This trend change is importnat for the continued success of this rally. Stay tuned
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