What's going on, is that the Dow Jones Transportation Index has been caught in a 6+ month sideways trading range.

Dow Theory states that the DJI and DJT should confirm each other, so many analysts are waiting to see if we get upside confirmation from the DJT.

Currently, the DJT closed slightly above the low end of its trading range, so it has a ways to go on the upside in order to earn an upside confirmation.

For many investors, this remains a caution sign until the sideways trending picks a definite direction.