Here’s a scary factoid for people who like to follow the market’s technical indicators: The Dow Jones Transportation Average yesterday booked its longest stretch of consecutive losses since 2011, according to FactSet data. Dow transports fell for an eighth straight session, matching a decline that ended August 2, 2011.
The closely watched gauge is often used as a proxy for the health of the overall economy. But it's unusual for the transports to fall while the overall Dow is moving sideways.
Transports have declined 3 percent over the past eight sessions, as of yesterday’s close. The Dow industrials, meanwhile, have lost about 0.2 percent since February 21. By comparison, the last time the Dow transports fell for eight straight sessions, the Dow industrials shed nearly 7 percent.
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