♟ Check Out This Squeeze on a Crucial Index

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"If this index breaks down, others could follow."

Nate Bear, Lead Technical Tactician, Monument Traders Alliance

Right now, the SPY is showing signs of an upcoming shift.

However, it could be a day or two before that shift happens.

So I'm looking at another key indicator - the iShares U.S. Transportation ETF (IYT).

The IYT has a clear squeeze (as you'll see in the chart below). In today's video, I show you why - when combined with the SPY trend - this squeeze could mean it's time to trade to the downside.

Click the image below for more details.

Why I'm Bearish On The SPY

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I'm looking to short the SPDR S&P 500 ETF (NYSE: SPY). I want to use a possible head and shoulders top, and I'm looking for a bigger move down in the SPY to close the gap around $396. I'm also looking at the IYT, which can be a leading indicator. It's in a weekly squeeze and looks bearish to me. If the IYT starts to break down, I think the SPY will follow. Right now, tech is holding everything up.

SPDR S&P 500 ETF Chart

(Click to enlarge)

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- Robert D5



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