FYI: If you have even a passing interest in the market, you probably have noticed that the Transports have really stalled out of late. Following today’s declines, the Dow Jones Transports is now closing in on “correction” territory with a decline of just under 10% from its highs last year. Although Dow Theory suggests that the Transports are a leading indicator for the economy, it is important to note that the Transportation industry group in the S&P 500 accounts for less than 3% of the entire index; it’s actually smaller than Apple. That being said, we would prefer to see them doing well than sucking wind.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/whos-picking-up-the-slack-for-the-transports/
