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One of the more noteworthy developments in recent days has been the move in telecoms.  After a weak 2017 that saw the iShares Dow Jones US Telecom ETF (IYZ) fell nearly 15 percent, underperformed the S&P by a wide margin, the ETF extended the losing streak, falling nearly 8 percent YTD.  Now the question is whether recent selloff is a beginning of an end?  Below is an update look at a trade in IYZ.

The graphic below is from our “U.S. Market Trading Map”, show the near-term technical bias and trading ranges.  As shown, the underlying is in a short-term bullish trend when the price bars are painted in green.  The underlying is in a short-term bearish trend when the price bars are painted in red. 

Chart 1.1 – iShares Dow Jones US Telecom ETF (weekly)

Our “U.S. Market Trading Map” painted IYZ bars in red (sell) – see area ‘A’ in the chart.  Over the past few weeks, IYZ has been basing sideways after the November rally ran out of steam near the 20-week moving average.  This level is significant in charting terms.  It acted as strong resistance since the ETF broke down in early 2017.  This week massive selloff pushed IYZ below the November rising trend line, signify…Click here to read more.

You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.

 

This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?

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