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Transport Stocks Move Into High Gear

|Includes: iShares Transportation Average ETF (IYT)

Today, most of the leading transportation stocks are catching a bid sharply higher. This is very evident by looking at the iShares Dow Jones Transport. Avg. (ETF) (NYSEARCA:IYT) which is trading higher by 41.38 to $116.01. Day traders should watch for intra-day resistance on the IYT around the $116.22, and $116.82 levels. The daily chart of the IYT still has resistance around the recent high at $118.00.

Some of the other leading transportation stocks that are trading higher today include FedEx Corporation (NYSE:FDX), United Parcel Service, Inc. (NYSE:UPS), Union Pacific Corporation (NYSE:UNP), and Norfolk Southern Corp. (NYSE:NSC).

Nicholas Santiago