Maximum Overdrive

Much has been made of the weakness in the Dow transports lately. Clearly, their performance over the past two months has been generally weak. And for Dow theorists, this is a potentially troubling early warning signal for a broader stock market including the Dow industrials that have been setting new highs in recent weeks. But while I have no shortage of reasons to be bearish about stocks in the current market environment, the recent performance of the transportation stocks is not one of them.

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