Beneath The Headline Indexes
While the headliners Dow, S&P 500 and Nasdaq 100 are above the early August lows, a large part of the broad US stock market is not.
We all know that the Small Caps (RUT) are lower (and breaking down from an ugly pattern) but here are other components of a US market that, bounce backs or not, is getting very heavy. It is way too early to claim ‘bull’s end’, but it is trade-able.
Here are COMPQ, WLSH, NYA and MID… all lower than early August. This is an unhealthy market to be avoided or shorted on bounces to key resistance points.
Disclosure: None.