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Dow Transports Look Higher


Wednesday March 12th, 2008
Dow Transports Look Higher
by Mike Paulenoff www.MPTrader.com
Dow Transports Look Higher
By Mike Paulenoff, www.MPTrader.com

After a morning dip on profit-taking and because of still-higher oil prices (ahead of the API report), the iShares DJ Transportation Index ETF (AMEX: IYT) pivoted to the upside and has thrust above its nearest-term resistance line at 82.40, which triggers higher projections in my work to 83.80-84.20 next, on the way to a retest of much more important resistance at 86.40/50.

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