All Aboard the Transportation Trade 🚂 The Chart Report
Chart of the Day
🏆 Today's Chart of the Day was shared by Jason Perz.
The iShares U.S. Transportation ETF (IYT) made new all-time highs today as rotation continues away from high-growth stocks and into underowned, lower-volatility areas of the market.
Old-fashioned railroads have been leading the charge within the sector, with Union Pacific, CSX, and Norfolk Southern all closing at record highs.
If Transports remain in favor, airlines may offer the next opportunity, as the JETS ETF attempts to establish support above its February breakout level.
The Takeaway: The market continues to find relative strength in "boring" stocks.
More Great Charts
The VIX continues to closely track its historical price path, suggesting a period of higher volatility may be on the horizon.
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The S&P 500 Value ETF (SPYV) closed at new all-time highs.
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The Nasdaq is still set up in a potential diamond top formation.
Check out the whole tweet from Hulk Capital.
The Memory ETF (DRAM) has slipped below the neckline of its head-and-shoulders pattern.
Examine the entire post from Brian Lund.
The Electrification ETF (VOLT), often considered the "picks and shovels" of the AI trade, is testing its pivot lows and threatening a breakdown.
View the full tweet from Equity Clock.
The Consumer Staples ETF (XLP) pushed higher out of its multi-week coil and was the top-performing sector today
See the complete post from StockSpy.
The Retail ETF (XRT) closed at new 5-month highs as it attempts to break out from a multi-year cup-and-handle pattern.
Check out the whole tweet from Dylan Tanen.
The Metals & Mining ETF (XME) is making new year-to-date lows.
Examine the entire post from Jim Carroll.
The Crack Spread closed at new record highs, meaning refined products have never been this expensive relative to crude oil.
View the full tweet from Karel Mercx.
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