US Indexes; Big Picture Monthly Views

It’s time again for the big picture perspective views on some key US indexes.

Dow is still on the breadth thrust script (i.e. potential manic upside/ending action).

indu

S&P 500, same basic script (with some Forks added for humor).

spx

Nasdaq 100 poked above and is currently below the 1999 high.  The dotted line remains red because that is resistance until a monthly close above it.

ndx

SOX is and has been our leader all through the Brexit hysteria turned ‘breadth thrust’ bull manic hysteria.  The thing here is that I have a data-backed positive view of the equipment sector and until that changes (eagerly awaiting next SEMI report) I think I’ll maintain it.

sox

Finally, the ugly duckling of the group, the Russell 2000.  A suspect looking pattern and…

rut

…market leadership for 2016 that I think is going to fail at or below the top gold downtrend line.

rut vs. spx

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