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Dow Tpt sends bearish signal

In Uncategorized on 06/04/2016 at 2:53 pm

From FT

The Dow Transportation Average, which is seen as an economic barometer because of its components’ central role in moving goods round the world, has fallen below its 200-day moving average, according to data from Bloomberg.

The fall in the Dow Transports below that support level could be an ominous sign, given moves in the average sometimes precede the broader market. For instance, Transports hit bottom in January about a month before the broader markets notched their lows of the year.

Investors will be watching closely to see if the Dow Jones Industrial Average or S&P 500 move toward their own support levels — something that still remains far afield.

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