Today, IYT broke 200.

Trouble indeed.
What does that mean for the bulls?
Should IYT fail to close above 200.20 by Friday, it will be the first failure of the 17-week exponential moving average.
Then, the 50-WMA comes in lower at 192.80.
With Semiconductors (SMH) and Regional Banks (KRE) already below their 50-WMAs, bulls can hope that IYT recovers before it sees its 50-WMA.
Otherwise, the long line of quiet bulls waiting for rebooking, will begin to get very restless.
Especially if there are only 2 buyers trying to hold the market up.
S&P 500 (SPY) Closed just under 287.70 the very pivotal 50 DMA, which puts this in an unconfirmed warning phase
Russell 2000 (IWM) 159.42 is the 50-WMA-if breaks, expect to see weakness and fear. What will save this? It starts with a move back over 164.
Dow (DIA) 259.50 is the underlying 50-DMA support.
Nasdaq (QQQ) Looking more like a double top unless it can clear and close over the 50 DMA or around 182.30
KRE (Regional Banks) Inside day. Lots of bank earnings this week-watch 61 for resistance and it must hold 58.28
SMH (Semiconductors) Inside day above 100. If that breaks, I think much lower. If can get over 102.23, a bit better
IYT (Transportation) See commentary
IBB (Biotechnology) 115 pivotal support, then 112. 118 now resistance
XRT (Retail) 47.75 the 200 DMA