Big Market Move Coming - Watch IYT ETF and FedEx
Very interesting couple of charts. The Transportation ETF IYT and one of its components FedEx FDX are setting up for a very nice trade. FedEx daily chart is forming a descending triangle that is more bearish than bullish.
The transportation ETF IYT is forming a symmetrical triangle. So, wait for the breakout on either direction before taking the trade.
IYT Daily Chart
FedEx Daily Chart