Dow Theory once again. Currently Dow Jones Industrial Average is approaching its previous peak.
On the other hand, Dow Jones Transportation Average struggles near its last bottom.
It is not healthy development. Usually both indices go jointly up or down. Please, look at the chart below:
This bull market in stocks is really impressive. It seems there is no chance to stop it.
However the topping process may last and last until there is no bear left. Similarly to air crashes - every catastrophe is a sum of at least a few factors of minor importance.
Slowly but the market internals are deteriorating.