• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Is the Transportation Sector Starting to Lead?
Stock

Is the Transportation Sector Starting to Lead?

by April 17, 2023
by April 17, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Over the weekend, we covered the weekly charts of the Economic Modern Family. And…

Given that yields begin this week higher.

Given that earnings season kicks into gear with banks, the weakest sector so far, surviving.

Given that the seasonality of April point bullish for the S&P 500.

Given all of that… we have a keen eye on our Transports.

The ETF (IYT) looks interesting on the Daily chart. Being above the 200-day moving average (green) yet below the 50-DMA 9Blue), IYT is compressing at a critical juncture. Furthermore, momentum according to our Real Motion Indicator shows no divergence, yet does have some upward movement along with price.

Given the importance of our demand sector of the Family, what else needs to happen?

If you thought to yourself that Mish will probably show the 23-month moving average for IYT, gold star!

Last week, Transportation (IYT), closed over the 50-week moving average and is in a bullish phase. The monthly chart though, is key. Should IYT breakdown below 223, I would take that to mean caution. However, should IYT clear 240 and hold, especially if the April positive seasonality factor kicks in? Then, our Transports, the trains, planes and automobiles sector, could defy, at least for a while, the Sell in May platitude crowd.

For more detailed trading information about our blended models, tools and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.

IT’S NOT TOO LATE! Click here if you’d like a complimentary copy of Mish’s 2023 Market Outlook E-Book in your inbox.

“I grew my money tree and so can you!” – Mish Schneider

Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth and a special bonus here.

Follow Mish on Twitter @marketminute for stock picks and more. Follow Mish on Instagram (mishschneider) for daily morning videos. To see updated media clips, click here.

Mish in the Media

Mish joins David Keller on the Thursday, May 13 edition of StockCharts TV’s The Final Bar, where she shares her charts of high yield bonds, semiconductors, gold, and regional banks.

Mish shares her views on natural gas, crude oil and a selection of ETFs in this appearance on CMC Markets.

Mish talks what’s next for the economy on Yahoo! Finance.

Mish joins Bob Lang of Explosive Options for a special webinar on what traders can expect in 2023!

Rosanna Prestia of The RO Show chats with Mish about commodities, macro and markets.

Mish talks opportunites in the market in this appearance on Business First AM.

Mish and Charles Payne rip through lots of stock picks in this appearance on Fox Business’ Making Money with Charles Payne.

Mish talks Beyond Meat (BYND) in these appearances on Business First AM.

In this guest appearance on the Madam Trader podcast, recorded March 20, Mish shares her journey from special education teacher to commodoties trader and now trading educator. Hear her insights on the spring 2023 market conditions and how to harness the right skills to succeed.

Coming Up:

April 19th: Closing Bell on Cheddar TV

April 20th: Benzinga Pre-Market Prep and Live Coaching Complete Trader

April 24-26: Mish at The Money Show in Las Vegas

May 2-5: StockCharts TV Market Outlook

ETF Summary

S&P 500 (SPY): Tight range to watch this week from 412-415.Russell 2000 (IWM): 170 support, 180 resistance.Dow (DIA): Peeking over the 23-month MA 336–impressive if holds.Nasdaq (QQQ): 312 support, over 320 better.Regional Banks (KRE): 41.28 March 24 low held, now has to clear 44.Semiconductors (SMH): 258 resistance with support at 250.Transportation (IYT): 219-228 the wider range to watch.Biotechnology (IBB): 130 major pivotal area-135 resistance.Retail (XRT): 58-64 trading range to break one way or another.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

You Might Also Like
  • 45% of Market Capitalization In S&P 500 Showing Strong Sector Rotation
  • Are You Ready for a Huge Selloff?
  • DP Trading Room: Gold Hits Another All-Time High
  • Don’t Ignore This Unusual Event on the Market’s March to New Highs
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Nike Stock: Three Rising Valleys and Running
next post
Typo forces Pennsylvania county to replace over 18K ballots

You may also like

Using the Chikou Span to Identify Early Trading Signals

September 15, 2023

How to Spot a Hedge Fund Trap: MicroStrategy’s Dramatic Plunge

September 4, 2024

Inflation Sparks Stock Market Downturn: What This Means for Your...

January 8, 2025

IT Breadth Momentum (ITBM) and IT Volume Momentum (ITVM) Top...

February 7, 2025

Top Ten Charts for August: Two Tempting Consumer Staples Names

August 20, 2024

Recap and Action Plan: Small Caps, Beans, Oil

November 18, 2023

VIX Flashes a Key BEARISH Symbol for Stocks!

August 22, 2023

Where the Market Goes Next: Key Resistance Levels + Top...

May 10, 2025

Discretionary vs Discretionary, a Fierce Battle Under the Hood

February 2, 2024

The Best Leading Indicator for Stocks

March 22, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025
    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,631 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,577 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,451 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters...

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    This Week’s Sector & Industry Group...

    February 3, 2024

    Oil, Chips and 4 Indices

    April 13, 2023

    Power Charting TV: What Lies Ahead?...

    February 18, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here