Is the Market Skating on Thin Ice? Most chart trends are bullish, but shock absorbers tell a different story.
Dec 28, 2020 | 10:14 AM EST
While no sell signals have appeared on the charts to date, investor sentiment levels and extended valuation continue to suggest the market s shock absorbers are very weak, leaving the markets vulnerable to any unforeseen negative news.
On the Charts
The indices closed higher Thursday with mixed internals on the NYSE and Nasdaq on light trading volume. The only technical event of note generated was the MidCap 400 (see below) posting another new all-time closing high.
The chart near-term trends are unchanged, with the S&P 500, Nasdaq Composite, Nasdaq 100, MidCap 400 and Russell 2000 bullish, as the DJIA, Dow Jones Transports and Value Line Arithmetic Index remain neutral.
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