Transportation Dow Theory suggests that transport leads the markets. A break Here could lead to lower prices or long-term stagnation. These are all potential areas of interest to be aware of. Confirmation is needed.
As posted before DJIA is also hitting multi-decade resistance. Now so is TRAN index simultaneously
What Is the Dow Theory?
The Dow theory is a financial theory that says the market is in an upward trend if one of its averages (i.e. industrials or transportation) advances above a previous important high and is accompanied or followed by a similar advance in the other average. For example, if the Dow Jones Industrial Average (DJIA) climbs to an intermediate high, the Dow Jones Transportation Average (DJTA) is expected to follow suit within a reasonable period of time.
Capacity utilization not doing so well to add to the analysis.
As a bit of added reference back on March 5th, 2020 I posted this chart prior to the collapse in TRAN