Page 31 - Uy Ortmann News Today

One Key Market Index Refuses to Join the Party As more new closing highs are registered, one index is still not in an uptrend. Apr 19, 2021 | 10:04 AM EDT The bulk of the major equity indices closed higher Friday with only the Dow Jones Transports posting a loss. Internals were positive on the NYSE and negative on the Nasdaq. The S&P 500, DJIA, Nasdaq 100, MidCap 400 and Value Line Arithmetic Index all made new closing highs. All but the Russell 2000 (see below), which is neutral, remai...

Clues to Where the Market Is Headed Next

S&P 500 Turns Near-Term Neutral Sentiment data remain cautionary. Apr 15, 2021 | 10:03 AM EDT Stocks are strong Thursday morning resulting from positive employment and retail sales releases. While the S&P 500 closed below its short-term uptrend line Wednesday, moving to a neutral near-term trend, most of the major equity index charts remain near-term bullish while market breadth is mixed. Chart trends should continue to be respected, even as sentiment data has become more cautionary. On...

Nasdaq Breaks Above Resistance Apr 14, 2021 | 11:00 AM EDT Two of the major equity indices made new closing highs Tuesday while another violated resistance on a closing basis, leaving all but the Russell 2000 in near-term uptrends. Even with the sentiment data shift to a more cautionary tone, the charts have yet to generate sell signals while the McClellan OB/OS are not what we would consider "threatening." On the Charts Source: Worden The S&P 500, Nasdaq Composite and Nasdaq 100 closed higher ...