The Transportation Sector ETF (IYT) has been reeling for the past 4 weeks.
And this decline has wiped out most of 2024’s gains.
That said, IYT is severely oversold and should bounce soon… hopefully it will be enough of a bounce to make bulls feel better about 2024.
Note that the 20-day moving average is turning down so I suspect any rally will be short-lived (or require patience).
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$IYT Transportation Sector ETF Chart
Twitter: @andrewnyquist
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.
