Check Out This Squeeze on a Crucial Index
Right now, the SPY is showing signs of an upcoming shift.
However, it could be a day or two before that shift happens.
So I’m looking at another key indicator – the iShares U.S. Transportation ETF (IYT).
The IYT has a clear squeeze (as you’ll see in the chart below). In today’s video, I show you why – when combined with the SPY trend – this squeeze could mean it’s time to trade to the downside.
Click the image below for more details.
YOUR ACTION PLAN
I’m looking to short the SPDR S&P 500 ETF (NYSE: SPY). I want to use a possible head and shoulders top, and I’m looking for a bigger move down in the SPY to close the gap around $396. I’m also looking at the IYT, which can be a leading indicator. It’s in a weekly squeeze and looks bearish to me. If the IYT starts to break down, I think the SPY will follow. Right now, tech is holding everything up.
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“I closed the 2 shares/Contracts [of PYPL] I opened at $5.35 for $6.92. Thanks, Bryan, for the overnight 29%!”
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