It’s a monthly chart and these guys move like molasses on a cold winter day. But we might wonder how long it may take for the stock market’s loss of leadership to manifest in some problems. The chart is untouched and unchanged in status since it was produced a few months ago. So for bulls it’s situation normal.
The SOX index has another 64 points to our target of 750. Intel is 2.5 bucks away from the NFTRH+ target of 40. SPY has a target not too far higher (210 measured long-term and around 220 off the daily pattern created in October and November). Momentum is there and so too are some troubling signs cropping up in both sub-market indicators and macro fundamentals.
Maybe we get a super Santa party and then… what? Bueller?
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