Dow theory non conformation where the transports are significantly lagging the broader market, suggesting the current uptrend in the market may be fizzling out.

1. Transports S and P 500 ratio, No new highs in more than 4 months
http://rajveersmarketviews.blogspot.in/2015/04/transports-s-and-p-500-
ratio-no-new.html
For a healthy advance in the market according to dow theory the transports ought to be making or
conforming new highs in the broader market. Taking a look at the transports S and P 500 ratio, there has
been significant underperformance of the transports of late, with no new highs in the transports and
consequently the transports s and p 500 ratio since the December of last year. A major bearish
divergence. Chart courtesy StockCharts.com.