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Dow Jones Transport Average Tag Double Top

|Includes: iShares Transportation Average ETF (IYT)

The iShares Dow Jones Transport. Avg. (ETF) (NYSEARCA:IYT) ran firmly into double top today. This is an epic bounce of $20 in less than two weeks. The chart is short term overbought and should see a pull back. Markets will be closely watching the FOMC Policy Statement tomorrow. This will be the driving force behind the next major move in the markets. Near term bias on the iShares Dow Jones Transport. Avg. (ETF) (NYSEARCA:IYT) is negative.

Gareth Soloway