ETF Chart of the Day: Dow Jones Transportation Average
March 11th at 1:10pm by John Spence
The iShares Dow Jones Transportation Average ETF (NYSEArca: IYT) is outperforming the market in 2013 and broke out to a new all-time high earlier this year before the better-known Dow Jones Industrial Average.
IYT is up 16% this year compared with a gain of about 10% for SPDR Dow Jones Industrial Average ETF (NYSEArca: DIA).
The Dow Jones Transportation Average ETF performed strongly last week, extending to a new all-time price high, says Investors Intelligence analyst Tarquin Coe. [Dow Industrials, Transports ETFs at Records]
“A healthy bull market needs leadership from this crucial area and that is exactly what the transports are providing,” Coe said in a note Monday.
“The relative chart versus the S&P 500 has broken the counter-trend move of 2011 and 2012, and resuming the 2009/10 trend of outperformance,” he added. “A test of the all-time relative high from 2011 is forecast in the months ahead.” [Transportation ETF Hits All-Time High]
iShares Dow Jones Transportation Average
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