Dow Transports Push Towards YTD Highs
As the S&P500 ($SPY) continues it’s stale sideways consolidation, there continues to be individual themes and sectors under the surface that offer more attractive (tradable) opportunities.
Today we saw follow-through higher in the Dow Transportation Index, shown here via $IYT bringing us to approximately +8% on the year, just shy of April highs.
This makes sense as early last week we identified and published this post outlining a number of airline stocks ($LUV $UAL $SAVE $AAL) all making notable bullish moves on the same day.
Since then, those stocks are all higher, which have helped fuel the IYT and this recent breakout.
One of our favorite looking names in this sector currently emerging from a healthy actionable base, and one that we just established a position in today is $CSX.
Finding leading stocks in an otherwise dull market is something we’ve been doing with success throughout all of this recent and confusing sideways chop.
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