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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