This morning, the important and highly followed Dow Jones Transportation ETF (NYSE:IYT) is catching a small bid higher. This leading sector has been very weak as of late despite the strong inflated stock market. Many traders and investors will follow the transportation sector as a leading indicator for the economy. Often when the transports decline it will generally signal that economic contraction is ahead. Today, the IYT is trading higher by 0.44 cents to $87.50 a share. Short-term traders should watch for intra-day resistance around the $87.70, and $88.30 levels. The daily chart of the IYT still remains weak on the chart.
Some other leading transportation stocks that are trading higher today include Union Pacific Corp (NYSE:UNP), Delta Air Lines Inc (NYSE:DAL), U.S. Airways Group Inc (NYSE:LCC), and United Parcel Service Inc (NYSE:UPS). It should be noted that all of these stocks remain weak on the daily charts.