A bellwether name of years past has lost that status over the last year. It has been replaced by UPS. “Big Brown” trades just 13% off most recent 52 week highs, compared to FDX 33% off its own annual peak, and it is trading right near the 1/31 earnings-related gap fill and the round 200 number. Getting back to FDX and the WEEKLY chart below shows its softness. First let us give it some credit, with the 15 of 16-week winning streak that more than doubled between the weeks ending 7/30-10/16/20. Although that was courtesy of the huge overall market push following Q1 2020. More mild pushes upward include the 13 of 17-week win streak the weeks ending between 2/5-5/28/21 and again with a 12 of 14-week streak the weeks ending between 10/8/21-1/7. Since then it has not gained ground once and on its daily chart recorded a bearish dark cloud cover candle. I think it could be shorted into that candle at 216 with a buy stop above 225. XPO is trying to hold onto is 13% gain this past week following earnings but a move back below 68 likely fills in the gap at 64.