Federal Express has been a good leading indicator for the S&P 500 over the past 10 YEARS!  Back in 2002, FDX created higher lows and the SPY followed.  In 2006/2007 FDX created lower highs and the SPY followed it down.

Now Fed Ex could be sending an “EXIT” signal for the markets/SPY as it hit the top of its rising channel and has been breaking down of late!

Fed Ex has been a good leading indicator at bottoms and tops.  Will it be different this time???

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past