One of the leading sectors that most traders and investors follow
is the transportation sector. Today, the transports are falling
during the session. The iShares Transportation Average ETF
(NYSEARCA:IYT) is declining lower by $1.01 to $125.73 a share. When
the transports decline many investors believe that it is a sign of
economic contraction. Either way, as traders we simply want to know
when we can buy it or sell it. The IYT should have intra-day
support around the $125.25 level. This is a potential bounce level
for today and should only be used by day
traders.
Nicholas Santiago
InTheMoneyStocks
