As the major stock market indices are at or making new all-time highs, many major sector ETFs are on watch.
Today, we highlight one. Perhaps one with more economically sensitive focus.
The Transportation Sector ETF (NYSEARCA: IYT).
While the Transportation Sector ETF (IYT) has been an underperformer this year, it is trading near its highs. And a breakout would be huge for this economically sensitive sector.
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$IYT Transportation Sector ETF Chart
Pretty straight forward chart. Price has tested the $73-$75 resistance band four times. A breakout would be huge for bulls. However, as it stands, it is resistance right now.
Twitter: @andrewnyquist
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
