Transports Likely To Pull Back Off Key Chart Level

The Transportation ETF (IYT) has surged into a major trend line of resistance. Based on the other seven times the IYT has hit this level and pulled back, it is likely to see a pull back again. The current price of $241.00 has tagged this trend line and will likely see a drop of upwards of $10, back to around $230.00. This is a solid swing trade setup on the short side.

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