The Dow Jones Transportation Index has been one of the most volatile indexes that we have seen in quite some time. This index is followed by many investors as a sign of economic expansion and growth. If someone looks at a recent daily chart of the transportation index the chart resembles a cardiogram. The index has been in a wide trading range for the past three and a half months.
Today, the iShares Dow Jones Transportation Index ETF(NYSE:IYT) is trading sharply higher by $1.87 to $92.70 a share. The IYT looks to have intra-day resistance around the $93.00 area. However, should oil begin to catch a bid and rally higher this could easily move the transport index lower intra-day. This index is directly effected by the high price of crude.
Other leading transportation stocks that are trading higher this morning are Delta Airlines Inc.(NYSE:DAL), United Continental Holdings Inc.(NYSE:UAL), and FedEx Corp.(NYSE:FDX). Should oil begin to rally higher it would be prudent to expect these leading transportation stocks to pullback intra-day. 
Nicholas Santiago
InTheMoneyStocks.com
