The Dow Jones Transportation Average is “experiencing a significant trend change.” Just how significant will it be?
From our April 22 Short Term Update:
This morning the average was up over 800 points from the previous close but finished the session down 2010 points, or a whopping 8.4%. It was a huge reversal… The stock of Avis Budget Group, Inc. ($CAR) was the leader that helped drive the Transports to its top and was also the leader in today’s reversal. But the entire index was weak. Of the 20 stocks comprising the Dow Transportation Average, 19 closed the day lower. A key point within the trend change in the Transports…
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