Transports Struggle To Catch A Bid

This morning, the leading transportation stocks are having trouble catching a bid higher. A case can be made that the high price of crude will keep many of the transport stocks under pressure. The iShares Dow Jones Transportation ETF (IYT) is trading lower by 0.32 cents to $91.66 a share. Short term traders can watch for intra-day support around the $91.17, and $90.80 levels.

Some leading transportation stocks that are declining lower today include Union Pacific Corp (NYSE:UNP), Norfolk Southern Corp (NYSE:NSC), FedEx Corp (NYSE:FDX), and United Continental Holdings Corp (NYSE:UAL). All of these stocks are now trading below their daily chart 50 moving average which puts these stocks in a weak technical position.

About Nicholas Santiago 575 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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