• 3 hours China Targets Hong Kong As Cold War With US Heats Up
  • 1 day No Shirt, No Shoes, No Mask, No Service
  • 2 days Is Bitcoin Actually Worth The Energy It Uses?
  • 2 days Insurance Companies Are Turning People Away As COVID-19 Crisis Escalates
  • 2 days Mining Exploration To Drop By Nearly 30% Despite Gold Boom
  • 2 days Europe Set To Unveil Its $500 Billion 'Green Deal'
  • 3 days Major Diamond Mine Slashes Production
  • 3 days Social Security Could Dry Up In Less Than A Decade
  • 4 days Europe On The Brink Of Economic Crisis
  • 4 days Barrick Gold Launches Exploration Program In Japan
  • 4 days COVID-19 Is A Hacker’s Paradise
  • 4 days Why Big Finance Is Bailing On Fossil Fuels
  • 5 days A New Trade War Will Send Gold Even Higher
  • 5 days Could COVID-19 Lead To Authoritarianism?
  • 6 days The $30 Trillion Mega-Trend To Watch As Markets Bounce Back
  • 6 days Gold Soars To 7-Year Highs
  • 7 days From Smartphones To Smart VR Acquisition, Apple Pushes the Envelope
  • 9 days Why Covid-19 Won’t Kill The Renewable Revolution
  • 10 days COVID-19 Could Spark A Global Food Crisis
  • 10 days How To Play The Next Big Rally In Gold
  1. Home
  2. Markets
  3. Other

The State of the Trend

The SPX daily is one percent away from its short-term target:

The DJIA is challenging its 2012 highs, and is 4% away from the '07 high:

The stick in the mud is the NDX, which is stuck in its box:

This is partly due to weakness in Apple. Despite all the excitement surrounding the Wednesday rebound, all it could muster is a consolidation below the recent lows. Further weakness will propel the stock down to $400:

The longevity of the January rally can be attributed to the fact that market internals never got overbought and managed to stay in neutral ground:

Now you can keep track of market internals for both the NYSE and NASDAQ live here during the trading day.

In summary, barring an unlikely change in monetary policy, the SPX continues to be on track to achieve its longer-term target:

 

Back to homepage

Leave a comment

Leave a comment