The Dow Jones Transportation Average ETF(NYSE:IYT) is trading higher today by $1.43 to $84.78. This translates to a $86.00 point increase in the Dow Jones Transportation Average. The transport index has now increased by over 15.0 percent since August 25th, 2010. This is a dramatic move higher with the other other major indexes and appears to be remain very strong. The IYT will face important daily chart resistance around the $87.00 level. Intra-day the IYT will face strong resistance around the $85.50 area.
Some leading transport stocks that are trading higher today include FedEx Corp.(NYSE:FDX), United Parcel Service Inc.(NYSE:UPS), and CSX Corp.(NYSE:CSX). When the leading transport stocks rally the sector will usually be very strong and that is the case today.
