The Macro Brief: The Great Divergence – Nasdaq vs. Dow Transports

Over the past five years, two bellwether indices have broken sharply apart.

This growing gap is not just a quirky chart pattern. It’s a macro signal worth dissecting.

• The Nasdaq Composite has surged to all-time highs, driven largely by a handful of mega-cap technology companies.

• The Dow Jones Transportation Average (DJT) — historically a leading economic indicator — has stalled, struggling to hold moderate gains.