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.
Regardless, as traders we simply want to know when we can buy or sell. 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.