Chart of the Day - Tuesday, April 5th, 2022
April 5, 2022
Today’s Chart of the Day was shared by Steve Strazza (@sstrazza). It's a chart of the Dow Transportation Average (black) and the Semiconductor Index (blue) over the past 11 months. Several bellwether industry groups have been notably underperforming in recent weeks. It's not just Transports and Semis, but other key areas like Homebuilders and Banks are also showing significant weakness. These economically-sensitive industry groups often lead the broader market higher or lower. Both Old-School and New-School Dow Theorists would agree that this is a sign of caution for the broader market.