The best way we can describe the Dow Jones Transportation Index is that it is a little higher than than last week at this time, but it is still at the lower end of its trading range.

The Transportation Index has been in a trading range since the end of last October. The Index is not very strong at this time, so it is in a higher-risk condition.

At the same time, it has been technically down trending since February 27 ... making lower highs and lower lows.

So, this will either turn out to have been consolidation for continued up movement, or it will continue its down trending and go lower.