Big Market Move Coming - Watch IYT ETF and FedEx

Submitted by Maher on Sun, 05/13/2012 - 21:46

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

IYT daily Chart

 

FedEx Daily Chart

FedEx Daily Chart

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