How Safe Are Your Technology Stocks ? Part 2

Part 1 of this post was back in June here, where I pointed out that for the third time in a row IYW formed a H&S Top. Target was achieved with a clean breakdown and no pullbacks. Currently, a smaller than usual 3-week H&S Top is forming for the FOURTH time! Neck at 77.50 and initial target is 75.60. Risk to reward ratio may not be that great though, but you never know maybe this will be a minor reversal top that starts a major bear trend.

IYW, technology

IYW Hourly


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s