Looking at the transports is often a good tell on the genuine health of the US economy. If one was to take a look as a whole in the small field they would come away with not such a sanguine feel. CSX is one of the better actors in the group, and it still is on the cusp of “correction” mode down 9% from its most recent 52-week highs. NSC looks more sickly 23% off its own annual peak, and even more since a rejection at the very round 300 number to start 2022. It is attempting to stabilize here near the round 200 figure after a recent 6-week losing streak. CNI slumped almost 6% last week and CP CLOSED 2 of the last 3 weeks hard upon its lows for the WEEKLY range. Below is the chart of UNP, whose most recent gap-up after its latest earnings reaction was a bit misleading as revenue came in light, but the PRICE jump was most likely attributed to the announcement of the CEO stepping down. This name also has more influence upon the XLI, being its second-largest holding, and the only rail name in the top 10 components.