Thursday, February 17, 2011

IYZ Telecom Sector Daily Chart Negative Divergence

IYZ telecom sector rolling over and slipping away the last few days receiving a negative divergence smack down. Overbot conditions and rising wedge reinforce the bearish vibe. IYZ is trending with higher highs and higher lows but this would change with a test of 21.75. The neon circles show some sizeable gaps to fill underneath. The pink lines will provide sturdy support. Lots more downside ahead. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.

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