More weakness in transportation stocks could signal struggles in the broader market, added trader Guy Adami.
"I think the next leg is lower in the transports and I think that drags the S&P down with it," he said.
Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, JCP, JPM, KO, LGF, RL, T, TWTR, VRX. Tim's firm is long BABA, BIDU, MCD, NKE, SBUX, YHOO.
Long PFE buy-write, Long TWTR & Long March Risk Reversal, Long EEM Dec 35/32 Put Spread, long IWM Dec Put Spread, Long UUP call spread, Long XLU Dec Call Spread, Long PYPL Jan Risk Reversal, Long M Jan16 52.50 / 62.50 call spread, Long INTC Dec Put Spread, Long XLF Dec put spread, Long NTAP risk reversal
Steve is Long AAPL, BA, BAC, CC, DD, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long IBM, BP, COP, CVX, MAT, OXY, RIG kids own EFA, EFG, EWJ, IJR, SPY
Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.