Karpel’s Corner: $IYT Transported to New Heights

Welcome to Karpel’s Corner! This is where I throw out my thoughts on the markets and share some of my favorite strategies. I won’t miss any opportunity to teach trading strategies and commentate on the latest trends affecting the financial markets. Hope you enjoy today’s post!

$IYT Transported to New Heights

The Transports — also known as the iShares Dow Jones Transportation Average ($IYT) — have cruised to new highs, as shown in this chart:

This move is important because there are three subindices that make up the Transportation Index: Airlines ($DJUSAR), Rails ($DJUSRR) and Trucking ($DJUSTK). With this broad-based index testing new highs and upside resistance, this needs to be monitored. It could be a clue of what the next move for the  large equity indices will be.

See you next time at Karpel’s Corner!