$DJT: Dow Jones Transportation Average Not Confirming The Run
If you wanted to know whether or not the market was on a bull run or not, all you had to do was look at the Dow Jones Transportation Average or even
RSP
(which definitely does not fit the bull market, showing that overall the S&P 500 has barely broken 15% gain since October).
More important though is the transportation average breaking off from the rally ahead of the rest of the market. When transportation is leading us lower this is not a good sign for the economy. Other economic indicators support this thesis. For example, cardboard box demand is the lowest it's been since 2008. Showing signs of a decline in goods demand.
For more insights on trading and investing check out the Equity Channel Podcast on Apple, Spotify and Amazon.
RSP
(which definitely does not fit the bull market, showing that overall the S&P 500 has barely broken 15% gain since October). More important though is the transportation average breaking off from the rally ahead of the rest of the market. When transportation is leading us lower this is not a good sign for the economy. Other economic indicators support this thesis. For example, cardboard box demand is the lowest it's been since 2008. Showing signs of a decline in goods demand.
For more insights on trading and investing check out the Equity Channel Podcast on Apple, Spotify and Amazon.