Broker Dealer ETF Looking Bearish (IAI)

Despite the fact tha the iShares Dow Jones US Broker-Dealers ETF (NYSE: IAI) is trading up a little bit, the ETF Professor cautions you about a bearish tint IAI's chart, which may be forming a bearish flag pattern after a recent sell-off.

IAI, which holds Goldman Sachs (NYSE: GS), Morgan Stanley (NYSE: MS) and Jefferies (NYSE: JEF) among others, is seeing heavy trade at well above twice its average daily volume, but the ETF is only up a few pennies as the Professor pens this missive.

Unless the market moves significantly before the the close, IAI could be vulnerable heading into next week.