Wednesday, December 9, 2015

US Stock Market Internals Look Not As Good As The Market Itself

US equities hold firmly but technical internals are still deteriorating - please, look at the chart below:

The chart shows an S&P 500 index (green line) and a red line representing a difference between S&P 500 New highs and New lows. Normally, when any index goes up, more and more equities hit fresh records. And vice versa. However, as the chart shows, although the index goes up (green dotted line shows the trend), more and more equities hit new lows (red dotted line).

In my opinion, it is a clear sign that US equities are topping.

No comments:

Post a Comment