Things may get ugly
Updated
The Transportation index generally is a leading indicator of the economy as you need logistics to move things around especially nowadays with online delivery.
The Dow Transportation index has fallen below the support level of 15317 and on June 10 when SPX hits all time high, the Dow index dropped and closed on the bottom. This generally is a bearish sign as the DOW is better represented of the US economy. Dow composed of major stocks from all industries except Utilities and Transport.
The Dow Jones index is weighted by the prices of stocks. SPX is weighted by the market value.
I guess time will tell
The Dow Transportation index has fallen below the support level of 15317 and on June 10 when SPX hits all time high, the Dow index dropped and closed on the bottom. This generally is a bearish sign as the DOW is better represented of the US economy. Dow composed of major stocks from all industries except Utilities and Transport.
The Dow Jones index is weighted by the prices of stocks. SPX is weighted by the market value.
I guess time will tell
Comment
July 8 - DJT is still dropping .. gapped down on Jul 8
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