Seeking Alpha

Transports finally take a hit

  • Previously immune to the selloff in the broader averages, things catch up to the Dow Transports Index (IYT -3%), with today's decline following yesterday's new all-time record.
  • Richard Russell alert? Followers of Dow Theory like to see industrials and transports moving together to confirm a trend. Prior to today's action the DJIA (DIA -1.2%) was down 2.3% YTD while the transports were up 2.3% - giving hope the broad market might be set to reverse course. Today's slump though, brings the transports into the red for the year.
  • Another transport ETF is the XTN.
  • DJIA ETFs: DIA, DOG, DXD, UDOW, SDOW, DDM
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