This chart looks at the Dow Jones Transportation Index over the past 25-years on a monthly basis.
The trend for Transports is up and nothing of late has changed the long-term trend.
Transports are testing 3-year rising support at (1) with momentum at levels heights only seen three other times in the past quarter-century. When momentum was this high in the past, Transports struggled for a while going forward.
Joe Friday Just The Facts- Transports could see selling pressure increase if support breaks at (1)!
The iShares Transportation Average ETF (IYT) closed at $186.93 on Friday, up $2.16 (+1.17%). Year-to-date, IYT has declined -2.45%, versus a -0.31% rise in the benchmark S&P 500 index during the same period.
IYT currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #26 of 34 ETFs in the Industrials Equities ETFs category.
This article is brought to you courtesy of Kimble Charting Solutions.
