Boo? Higher Rates Are Failing to Frighten Big Tech thestreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestreet.com Daily Mail and Mail on Sunday newspapers.
We re Due for a Bout of Volatility thestreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestreet.com Daily Mail and Mail on Sunday newspapers.
The McClellan Summation Index has been in a clearly defined downtrend since late December
Many Main Street investors only pay attention to the daily trading closes of the main stock indexes.
But those who fall in that camp are missing out on a lot of valuable insights regarding the strength or weakness of a trend. In other words, when it comes to the stock market, it pays to look under the hood.
For example, on Friday (March 26), all three major indexes rallied with the S&P 500 climbing 1.7% to hit a record closing high. Those who glance at the stock market headlines may have concluded all systems go.
The April Rally Arrived, Now What? Let s check the indicators to see what s coming.
So we have gotten our rally into early April. Will it continue?
I think it has a bit more to go, but let s take a look at the indicators and where they stand.
My own Overbought/Oversold Oscillator will be back to overbought late this week. Typically, that means we d get a down day early in the week and one more push up before the week is out. The New York Stock Exchange s Oscillator is over the zero-line, but Nasdaq s is not yet there. Keep in mind this is based on breadth. Good breadth surges the Oscillator while poor breadth keeps it lethargic.