IYT just hit long-term support/target at 205 on the weekly chart while oversold. I favor a tradable bounce off this level that is likely to last weeks or even months so more apt to be a buyer of select transports at this time but will look to short some of those on the next leg down.

Some of the shippers appear to have some more downside but many have already fallen to some key supports that would have been my preferred swing short targets, had I shorted them. Maybe I’ll cover those in a video soon. Thx for mentioning.

Also battery tech stocks look vulnerable $LIT.