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Transports Head South, Watch This Intra-day level

• inthemoneystocks

  7 Nov 13, 01:18

  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