iShares Transportation Average

  • TickerIYT
  • ISINUS4642871929
  • ExchangeNYSE Arca
  • SectorNonequity Investment Instruments
  • CountryUnited States
Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

Despite Concerns, Tape Remains Bullish In our 4/6/20 ETF Pathfinder we highlighted key S&P 500 pivot levels which included support at 2447-2455 and resistance at 2538 & also the 2575-2642 zone. We noted eventual breakouts or breakdowns above or below these levels would tell us where equities were likely headed next. The S&P 500 broke above these resistance levels on April 6 meaning the bulls were in control and equities were headed higher -- which is where we continue to be today. Despite the bulls still being in control, we cannot rule out the potential for a pullback as there continues to be...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

Constructive Pullback Coronavirus concerns are hitting stocks due to prospects of lower economic growth. A question we ask ourselves is whether the worst of the declines are behind us and that the pullback is likely to be a buying opportunity, or is this the beginning of a much larger correction? We lean towards the former, and believe this to be a healthy and constructive pullback of the 5-7% variety in the S&P 500 (peak-to-trough is currently -3.7%). We explain our thought process below. • Bent, Not Broken. Several key areas of the market have deteriorated, however none are truly breaking ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

Hanging in the balance Last week's worse-than-expected economic data further spooked investors and reignited global growth concerns. Despite the many potential risks that we can point to for this market and the economy, thus far we are not seeing any technical breakdowns, and until we do, our neutral outlook remains appropriate. • Cyclicals not breaking down. Key cyclical/risk-on areas of the market such as small-caps (IWM), banks (KBE), and transports (IYT) are not breaking down. As long as this continues to ring true the potential for a larger pullback in the broad market remains slim... s...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

Global indexes at major resistance Despite the S&P 500 having crept into all-time high territory, several signals continue to give us reason for pause as they are not indicative of what we would expect to see in a typical bull market. Below we highlight some of these signals which give us reason for pause, including major global indexes (ACWI and IOO) which find themselves at critical resistance... see charts below. • Reasons for pause: RS is neutral and consolidating for defensive bond proxy Sectors. Price trends are neutral at best for banks (KBE, KRE), transports (IYT), small-caps (IWM), ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Semiconductors, Transportation improving The S&P 500 continues to move higher on narrow leadership, which is not inspiring a bullish outlook. Currently leading the S&P 500 higher in terms of RS are Technology, Services, Facebook (FB), Amazon (AMZN), and Procter & Gamble (PG). If this were a bull market, (1) PG would likely NOT be listed here as leadership, and (2) we would expect to see participation broaden out to Discretionary (RCD), Transportation (IYT), banks (KBE), Industrials (XLI), and small-caps (IWM). All of these areas are still consolidating below meaningful resistance, and we cont...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

Despite Concerns, Tape Remains Bullish In our 4/6/20 ETF Pathfinder we highlighted key S&P 500 pivot levels which included support at 2447-2455 and resistance at 2538 & also the 2575-2642 zone. We noted eventual breakouts or breakdowns above or below these levels would tell us where equities were likely headed next. The S&P 500 broke above these resistance levels on April 6 meaning the bulls were in control and equities were headed higher -- which is where we continue to be today. Despite the bulls still being in control, we cannot rule out the potential for a pullback as there continues to be...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

Constructive Pullback Coronavirus concerns are hitting stocks due to prospects of lower economic growth. A question we ask ourselves is whether the worst of the declines are behind us and that the pullback is likely to be a buying opportunity, or is this the beginning of a much larger correction? We lean towards the former, and believe this to be a healthy and constructive pullback of the 5-7% variety in the S&P 500 (peak-to-trough is currently -3.7%). We explain our thought process below. • Bent, Not Broken. Several key areas of the market have deteriorated, however none are truly breaking ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

Hanging in the balance Last week's worse-than-expected economic data further spooked investors and reignited global growth concerns. Despite the many potential risks that we can point to for this market and the economy, thus far we are not seeing any technical breakdowns, and until we do, our neutral outlook remains appropriate. • Cyclicals not breaking down. Key cyclical/risk-on areas of the market such as small-caps (IWM), banks (KBE), and transports (IYT) are not breaking down. As long as this continues to ring true the potential for a larger pullback in the broad market remains slim... s...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

Global indexes at major resistance Despite the S&P 500 having crept into all-time high territory, several signals continue to give us reason for pause as they are not indicative of what we would expect to see in a typical bull market. Below we highlight some of these signals which give us reason for pause, including major global indexes (ACWI and IOO) which find themselves at critical resistance... see charts below. • Reasons for pause: RS is neutral and consolidating for defensive bond proxy Sectors. Price trends are neutral at best for banks (KBE, KRE), transports (IYT), small-caps (IWM), ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Semiconductors, Transportation improving The S&P 500 continues to move higher on narrow leadership, which is not inspiring a bullish outlook. Currently leading the S&P 500 higher in terms of RS are Technology, Services, Facebook (FB), Amazon (AMZN), and Procter & Gamble (PG). If this were a bull market, (1) PG would likely NOT be listed here as leadership, and (2) we would expect to see participation broaden out to Discretionary (RCD), Transportation (IYT), banks (KBE), Industrials (XLI), and small-caps (IWM). All of these areas are still consolidating below meaningful resistance, and we cont...

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