In options trading, some institutional investors are making betting against the transportation ETF, which could be evidence of hedging or speculation of a decline. The fund has also seen trading volume pick up this week. [ETF Chart of the Day: Dow Jones Transportation Average]
Dow Theory is suggesting a “potential inflection point,” writes Barry Ritholtz at The Big Picture blog. A rally above 12,900 in the Dow Industrials would carry the index above the 2011 highs, but bullish investors want to see the move confirmed by the Transportation index, he noted.
iShares Dow Jones Transportation Average
