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The IYT Gets Transported South

|Includes:CSX, DAL, iShares Transportation Average ETF (IYT), KSU, R

This morning, the important and highly followed iShares Dow Jones Transportation Average ETF (NYSEARCA:IYT) is trading lower by $1.84 to $91.52 a share. This is a 2.00 percent decline for the major transportation index. Traders and investors will usually follow the transport index very closely as a sign of economic growth and contraction. The daily chart of the IYT will have short term support around the $90.70 area. Short term traders can watch for intra-day support around the $91.50 and $91.00 levels.

Some of the leading transportation stocks that are coming under selling pressure today include Kansas City Southern (NYSE:KSU), CSX Corporation (NYSE:CSX), Delta Air Lines, Inc. (NYSE:DAL), and Ryder System, Inc.(NYSE:R). All of these these transport stocks are trading lower with the major stock indexes, therefore, investors may want to time any trades with the important IYT.

Nicholas Santiago

(click to enlarge)Click to enlarge

Stocks: IYT, CSX, DAL, KSU, R