• Dow Jones Industrial Average Can't Keep Up With S&P 500, Nasdaq 100

    22 days ago - By ETF Daily News

    Market technician Dave Chojnacki of StreetOne Technical Analysis examines Thursday's market action and updates the underlying technicals for the major U.S. averages, as we head into a holiday weekend.
    Economic numbers came in as expected on Thursday, but the Market opened to the downside. After multiple sessions of record highs in equities, the averages were poised for a pullback. The trading was choppy during the session, and the best performer was the NDX. The NDX was helped by AMZN and AAPL making new highs. AMZN closed above the 2000 level. Some of yesterday's weakness was blamed on...
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  • Is The S&P 500 Creating A Topping Pattern Like 2000 and 2007?

    Is The S&P 500 Creating A Topping Pattern Like 2000 and 2007?

    22 days ago - By ETF Daily News

    From Chris Kimble : Did the topping patterns in 2000 & 2007 have anything in common? Yes, they did.
    While the S&P was hitting nominal new highs in 2000 & 2007 at each (1), monthly momentum was actually heading lower at each (2).
    Of late the S&P is hitting new highs, while monthly which was recently higher than the 2000 & 2007 peaks has been turning lower.
    Odds of the S&P repeating the 2000 & 2007 highs? Low!!!
    Impact if it would be topping again? High
    Bulls might want to keep a close eye on what the S&P does in the next few weeks due to momentum turning lower.
    The SPDR S&P 500 ETF Trust...
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