The transportation sector is followed closely by most every trader and investor as an economic barometer. When the transportation sector trades higher it is a sign of economic expansion and growth. The opposite is true when the transportation sector declines it is a sign of an economic slowdown and contraction.
This morning, the iShares Dow Jones Transportation ETF (NYSEARCA:IYT) is trading lower by 0.71 cents to $92.82 a share. The daily chart of the IYT is still trading above the 50 moving average. Traders can watch for daily chart support around the $90.00 area. The IYT will have intra-day support around the $92.25, and $91.50 levels. Other leading transportation stocks that are declining lower today include Delta Air Lines Inc (NYSE:DAL), United Continental Holdings Inc (NYSE:UAL), FedEx Corp (NYSE:FDX), and CSX Corp (NYSE:CSX).
Nicholas Santiago
InTheMoneyStocks.com
