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Transportation Stocks Sink

|Includes: iShares Transportation Average ETF (IYT)

This morning, the leading transportation stocks are falling sharply at the start of the trading session. The highly followed and popular iShares Dow Jones Transport. Avg (ETF) (NYSEARCA:IYT) is trading lower by $1.86 to $109.44 a share. Short term intra-day traders should watch for intra-day support around the $109.00, and $108.50 levels. When the transports decline sharply it is often a sign of potential economic weakness in the market. Many traders and investors will view the transportation indexes as a leading indicator.

Some leading transport stocks that are trading lower on the session include FedEx Corporation (NYSE:FDX), United Parcel Service, Inc. (NYSE:UPS), United Continental Holdings Inc (NYSE:UAL), and Union Pacific Corporation (NYSE:UNP). Last week, FDX reported earnings that were much weaker than expected. When the leading stocks struggle in a bullish stock market it is always worth noting.

Nicholas Santiago