Transports / S&P Ratio Hits New Low

Thanks in large part to poor performance from Fed-Ex, the Dow Transports are really struggling, especially on a relative basis.

The ratio between the Transports and the S&P 500 just hit a multi-year low, which isn’t something we see too often when the S&P itself is trading at a nearly six-month high. It has led to significantly poor returns for stocks in the months ahead.