I’ve been eyeing the Transports Sector (IYT) for the past few weeks as it was flashing caution warning of a market top.
Using the pivot trading system over at Pivotal Pivots we saw the Transportation Index and IYT rolling over from the Yearly R1 resistance pivot.
This typically spells trouble. And it did.
Today IYT is testing support on the Yearly Pivot (YP). I think the transports IYT will find Support soon here or on the 200 day moving average further below at 176.
Dow Transports (ITY) Pivot Chart – Support Soon?
Most traders and investors don’t know where to reduce or hedge risk. The biggest reversals happen at the yearly pivot points! If you know in advance where the yearly pivot points are, you have a trading edge!
Know In advance where these key Pivots are at on Pivotal Pivots or catch me on Twitter.
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The author may have a position in mentioned securities at the time of publication.  Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
