BETA
This is a BETA experience. You may opt-out by clicking here

More From Forbes

Edit Story

Market Scorecard: Dow Industrials, S&P 500, Nasdaq Have Positive Weekly Charts. Transports, Russell 2000 Are Negative.

Following
This article is more than 2 years old.

The Dow Jones Industrial Average (DJI) set its all-time intraday high at 35,192.11 on August 2, 2021.  The S&P 500 Index (SPX) set its all-time intraday high at 4,429.97 on July 29. The Nasdaq Composite (IXIC) set its all-time intraday high at 14,863.65 on July 26. All three have positive buy overbought weekly charts. The S&P and Nasdaq are in inflating parabolic bubble formations.

The Dow Jones Transport Average (DJT) and Russell 2000 Index (RUT) have negative weekly charts. Transports set its all-time intraday high at 16,170.05 on May 10. The Russell 2000 set its all-time intraday high at 2,360.17 on March 15.

The Dow Jones Industrial Average (34,935) has a positive but overbought weekly chart. It’s above its five-week modified moving average at 34,715 with its 12x3x3 weekly slow stochastic reading rising at 85.51. Its annual, semiannual and quarterly value levels are 33,425, 32,997 and 31,968, respectively, with its monthly risky level at 36,423.

The S&P 500 Index (4,395.26) has a positive but overbought weekly chart. It’s above its five-week modified moving average at 4,336.45 with its 12x3x3 weekly slow stochastic reading overbought at 93.05. The reading above 90.00 puts SPX in an inflating parabolic bubble. Its quarterly, annual and semiannual value levels are 4,075, 3,932 and 3,810, respectively, with a monthly risky level at 4,540.07.

The Nasdaq Composite (14,672.68) has a positive but overbought weekly chart. It’s trading above its five-week modified moving average at 14,490.09 with its 12x3x3 weekly slow stochastic reading overbought at 91.69. The reading above 90.00 puts the Nasdaq in an inflating parabolic bubble. Its semiannual and annual value levels are 12,465 and 12,000 with a quarterly pivot at 14,447 and monthly risky level at 15,347.

The Dow Jones Transport Average (14,460.80) has a negative weekly chart. It’s below its five-week modified moving average at 14,759.02 with its 12x3x3 weekly slow stochastic reading declining at 24.86. Its semiannual and quarterly value levels are 13,258 and 13,160 with its annual pivot at 14,424 and monthly risky level at 15,873.

The Russell 2000 Index (2,226.24) has a negative weekly chart. It’s below its five-week modified moving average at 2,242.73 with its 12x3x3 weekly slow stochastic reading declining at 49.93. There is a double-top during the weeks of March 19 and June 6. Its quarterly and semiannual value levels are 2,013 and 1,921 with an annual pivot at 2,120 and monthly risky level at 2,573.

Follow me on Twitter or LinkedIn