Broken Cars

There is no sense in pretending
Your eyes give you away
Something inside you is feeling like I do
We said all there is to say
--Tom Petty

Even if one is using the thickest crayon rather than a pencil, it's hard not to conclude after today's action that the Trannies have officially broken down. The Transportation Index is now south of 8600ish support by about 200 pts.

While it remains to be seen what this means for the general tape, hard not to view this as bearish.

position in SPX