Will we see a re-test of the February lows?

The Dow Industrials closed down nearly 300 points today, or about 1.16%. More concerning was the 246 point decline in the Dow Transports, which equated to nearly 2.3%. Dow Theory plays a significant role in how I view the market, so I am paying very close attention to the Transports now. Since the early February low close, the Transports only recouped about 700 points of its losses, or just over 50% of the down move from the January high. Meanwhile, the Dow Industrials had picked up about 1,900 points of its 2,800 point decline, or about 2/3 of the losses. The Transports now seem likely to re-test the early February lows, and that likely means the rest of the market will decline a bit from here. The question then will be what happens next? The Transports have been lagging the Industrials for quite awhile. If they turn lower, it will be difficult for the overall market to make significant new highs, as was the case in 2015 after the Transports peaked in late 2014. So, for what it's worth, the Transports are flashing yellow again.