TRAN, the Dow Jones Transportation Average, peaked at 10804-10880 in late July so a -10% pullback, which is a correction, would be 9724-9792. TRAN came down to the 9750's into correction territory but now prints 9805. The trannies are keeping their heads above water while teasing correction territory. TRAN fell into a correction in May but then recovered. Trannies at 9805 is a -9.9% drop off the July top. Note that TRAN may take out the June low which would obviously forecast trouble ahead. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
Note Added 6:04 PM EST: The trannies stumble and fall -0.8% to 9764 in the Monday session close enough to say that the Dow Jones Transportation Average is in a correction. Note the low intraday print, LOD, at 9695 takes out the early June low which is not good. RUT small caps did the same thing.
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