Monday March 24, 03:22 PM
Dow transports up 21% off Jan. 22 low; tops 200-day simple moving average
NEW YORK (Thomson Financial) - The Dow Jones Transportation Index surged to 3 1/2-month high, topping its 200-day simple moving average for the first time in nearly 6 months.
The index was last up 169 points, or 3.6%, at 4,877, compared
with a 215-point, or 1.7% gain for the Dow Jones Industrials Average. The transports index has now gained 21% since hitting a low of 4,032.88 in intraday trading on Jan. 22, which at the time was the lowest price seen since November (Frankfurt: A0S9N7 - news) 2005.
The transports sector tracker reached a high of 4,895.03 in intraday trading, the highest price seen since Dec. 11.
The index also topped the 200-day moving average, which came in at 4,776.40 on Monday, for the first time in intraday trading since Oct. 9, 2007. The last close above the 200-day was Oct. 8.
Tomi Kilgore
tk1
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