Technical, with the bullish hidden divergence where price doesn't fall alot but MACD looks oversold, i bet that a reversal is nearing, which continues the uptrend
and we have 3 consistent weeks of dip buyers making the 8600 support really strong
it looks like a bull flag if it breaks UP
i will presume IYT also looks the same (which will be a good long), will attach IYT as well as the DOWT 20 constituents chart below
NOTE: a break down below 8600 and a weekly close below the 2009 uptrend line will not support the bullishness case
and we have 3 consistent weeks of dip buyers making the 8600 support really strong
it looks like a bull flag if it breaks UP
i will presume IYT also looks the same (which will be a good long), will attach IYT as well as the DOWT 20 constituents chart below
NOTE: a break down below 8600 and a weekly close below the 2009 uptrend line will not support the bullishness case
Note
Note
like i said, if bull flag fails
there is a possibility of HS
Note
Note
Note
Note
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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.