ETF recommendation for 1/12/2017

Most folks are familiar with the Dow theory. The Dow transportation perform as a leading indicator for the overall market. Let's look at the Dow transportation ETF: IYT. From daily chart, IYT and sp500 syn up candle by candle very well. It tells us when IYT bottoms, sp500 mostly bottomed out also. When IYT moves up, sp500 tends to follow it up.

http://schrts.co/rBECLw

When we look at the weekly chart of IYT, more excited news is discovered for bull. IYT break out long term resistance level 162~163 and finished back test 2 weeks ago. It tends to move up now. The long term target for IYT is 200 ( Is this crazy?, not at all.). So in short term, I still believe sp500 in uptrend phase. 

http://schrts.co/rt7RHa