The Transports are trading like . A bearish momentum divergence has formed for months now. The story has gone from one of the standout sectors post-election to one of failed attempts at new highs.
Now ETF IYT sits at the 50 day moving average. A moving average that has flattened over the last month and a half.
We’ve seen a lot of data underneath the surface give up the post election gains. We can’t help but wonder; are Transports next?