Just when the market flashes a sign it is getting ready to take a rest, it re-energize like the energizer bunny and zoom to another new all time high for the DJIA, DJT, and SP500 along with the Nasdaq 100 making a new multi-years high. The only index that did not make a new high was the Russell 2000. While the market indices made new high, the internal market breadth continues to deteriorate, so when will this stop? The answer might appear when euphoric/panic buying occurs. Until then, pick your stocks, manage your risk, and trade your plan.
Here are the charts of the internal market breadth for the NYSE and the NASDAQ.
NYSE:
NASDAQ:
The following weekly charts of the market indices show the indices are still trending inside the multi-year rising price channel.
DJIA:
DJT:
SP500:
NASDAQ 100:
Russell 2000:
If a price channel breakout occurs, be alert of possible climatic top could be in the making…euphoria!
