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The DJ Trucking index’s rallied 30% since last summer which has taken it back to its 2011 highs. Yesterdays 4% decline in this index does not make a trend, yet it is worth watching their action in the upcoming days because it is good news for SPY to see Transports moving to new highs.
The above chart reflects that Trucking, IYT & SPY are up against some key lines at the exact same time.
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Transports ETF (IYT) has doubled S&P 500’s performance since 11/26/2012. A breakout in IYT & Trucking would be a big plus for SPY if it happens! Watch trucking from here on to see if it “Drives the broad market” past resistance.
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