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Transports Pulling Back Early

|Includes: iShares Transportation Average ETF (IYT)

 This morning the iShares Dow Jones Transportation ETF(NYSE:IYT) is pulling back a bit. The transports have rallied sharply higher since making a pivot low on March 15, 2011. Day traders can watch for intra-day support on the IYT around the $92.60 area. This would be a short term bounce area for the transports.

Nicholas Santiago