Transport Stocks Continue To Deliver
The highly followed transportation sector continues to rally this morning. This sector found a short term low on June 13, 2011, since that time the sector has rallied higher by nearly 5.0 percent. Today, the iShares Dow Jones Transportation ETF(NYSE:IYT) is trading higher by $1.47 to $95.99 a share. The IYT will have some short term intra-day resistance around the $96.10, and 96.50 levels.
Many traders and investors will follow the transportation sector very closely. When the transportation index trades higher it is usually a sign of economic growth and expansion. Some other leading transportation stocks that are trading higher include CSX Corp.(NYSE:CSX), FedEx Corp.(NYSE:FCX), and Union Pacific Corp.(NYSE:UNP).