This translation has been automatically generated and has not been verified for accuracy.The Dow Jones Transportation Average is struggling to get into gear and that could be a sign the market is ready to stall further.
The 123-year-old Dow transport average has climbed 8% this year, and more than 14% since Dec. 24, when the overall market made a recent bottom. But those gains have trailed other major indexes; for example, the Dow Jones Industrial Average is up about 10% in 2019 and 18% from Dec. 24. Matt Maley, chief market strategist at Miller Tabak, said the divergence of the transports is a sign the broad market could be due for a steeper pullback. Maley said the market could test the lows from early June, which are 5% below current levels.
“That was the one area in the transportations that was holding up and now it’s rolling over,” Maley said.
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