• 951 days Will The ECB Continue To Hike Rates?
  • 951 days Forbes: Aramco Remains Largest Company In The Middle East
  • 953 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,353 days Could Crypto Overtake Traditional Investment?
  • 1,358 days Americans Still Quitting Jobs At Record Pace
  • 1,360 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,363 days Is The Dollar Too Strong?
  • 1,363 days Big Tech Disappoints Investors on Earnings Calls
  • 1,364 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,366 days China Is Quietly Trying To Distance Itself From Russia
  • 1,366 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,370 days Crypto Investors Won Big In 2021
  • 1,370 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,371 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,373 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,374 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,377 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,378 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,378 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,380 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Do the Markets Have a Little More Upside?

Below is the daily chart of the NYSE. It reflects a consolidation pattern right above the trend line for this leg up. The initial take is it's a bullish pattern with an expected upside break out pending. It also looks like a wave 4 pattern, so the break out might be the final move on this leg up.

NYSE Composite Index

Additional upside the next couple of days will probably be supported by month and quarter end window dressing by fund managers who have to demonstrate they're this market.

The reason for looking at the NYSE is because it's one of the broadest market indexes, and it also helps provide market clarity from a technical perspective. If one looks at the same daily chart of the DOW and SP500, they do not reflect this little consolidation pattern, and thus looking at various markets can provide clarity to market structure. I often look at all three indexes for such reasons.

Hope all is well.

 

Back to homepage

Leave a comment

Leave a comment