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Characterizing The Indexes

By Tim KnightStock MarketsApr 16, 2021 02:56AM ET
www.investing.com/analysis/characterizing-the-indexes-200573382
Characterizing The Indexes
By Tim Knight   |  Apr 16, 2021 02:56AM ET
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Up, up, and away! Let’s take a fresh look at the big indexes out there.

The Dow Jones Composite, as is the habit of so many assets lately, hit yet another lifetime high. That wedge has tidily confined prices for over a year now.

COMP Chart
COMP Chart

The NASDAQ Composite isn’t quite in lifetime high territory quite yet. It wouldn’t take much to do so, particularly with a tidal wave of earnings coming from huge tech firms next week and, even moreso, the week after.

COMPQ Chart
COMPQ Chart

The more narrow NASDAQ 100 did, however, reach a lifetime high.

NDX Chart
NDX Chart

There are those two words again—Lifetime High—for the S&P 100. Optimism abounds!

OEX Chart
OEX Chart

Small caps, however, are still being left out in the cold (relatively speaking). This has been meandering for months now, with no clear direction and certainly no gusto, either bullish or bearish.

RUT Chart
RUT Chart

As you know, the H&S on the semiconductors got wrecked a couple of weeks ago, although it is still beneath its broken uptrend.

SOX Chart
SOX Chart

The charts above are pretty much just the past year or two, but I’ve deliberately selected a much longer period of the Dow Utilities, below, to illustrate what might be an important shift in trend.

UTIL Chart
UTIL Chart

Volatility, naturally, has been getting the life strangled out of it for many months, as we sink directly into the mid-teens.

VIX Chart
VIX Chart

Lastly, the final bastion of bearish possibilities—the last ursine creature standing—is the oil sector.

XOI Chart
XOI Chart
Characterizing The Indexes
 

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Characterizing The Indexes

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Comments (2)
Sushil Jain
Sushil Jain Apr 17, 2021 2:05AM ET
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No conclusions : what is yr point ?
Stephen Short
Stephen Short Apr 16, 2021 12:23PM ET
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What is your point?
 
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