This morning, most of the leading railroad stocks are declining at the start of the trading session. One of the leading stocks in the sector is Norfolk Southern Corp (NYSE:NSC). Today, NSC is trading lower by 0.53 cents to $71.70 a share. Day traders should watch for intra-day support around the $71.30 level. The daily chart is actually showing support at the current level and more chart support around the $69.75 area. ....
Many of the leading transportation stocks are trading higher today. This leading sector has been extremely weak since May 3, 2012. Today, the important iShares Dow Jones Transport. Avg. (ETF) (NYSEARCA:IYT) is trading higher by $1.15 to $92.41 a share. Short term traders should watch for intra-day resistance around the $92.60, and $93.10 levels.
One of the most important stock sectors that any trader or investor can follow is the transportation sector. Many investors will look at the transportation sector as a sign of market strength and economic expansion when the sector trades higher. On the flip side, when the transportation sector trades lower it is usually viewed as a sign of economic contraction.
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 important and highly followed Dow Jones Transportation Index ETF (NYSEARCA:IYT) has rallied higher since April 10, 2012 when it traded as low as $90.45 a share. This morning the IYT is trading higher by 0.03 cents to $94.69 a share. This ETF looks to have very good resistance around the $95.00 to $96.00 levels.
This morning, the important transportation index is trading slightly lower to start the day. The ishares Dow Jones Transportation ETF (NYSEARCA:IYT) is declining lower by 0.11 cents to $94.47 a share. Short term traders should watch for intra-day support around the $94.13 and $93.20 levels.