Transports Weak Again Today (CSX, FDX, UPS)

The transports are weak today, and general consensus is that for equities to go higher, the transports have to lead us, otherwise it is a false breakout. This could mean a turn lower, and seeing as we are very overbought here, the move downwards could be sharp and painful. At last check, shares of transport names like CSX CSX, FedEx FDX and UPS UPS were all modestly lower, led by the move downwards in CSX, which is down almost 1% today. CSX Corporation provides rail-based transportation services in North America. The company offers traditional rail service, and the transport of intermodal containers and trailers. United Parcel Service, Inc., a package delivery company, provides transportation, logistics, and financial services in the United States and internationally. FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates in four segments: FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services.