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Indicators Showing Major Indexes Are Weakening Despite New Highs

Published 07/27/2021, 10:38 AM
Updated 07/09/2023, 06:31 AM

Since every weekday is accompanied by lifetime highs, I thought I’d share a few major index charts with the Commodity Channel Index and %R indicators to show that, beneath the surface, things are actually weakening. Honest! Here’s the Dow Jones Composite:

Dow Jones Composite Chart.

The Russell 2000 small caps:

Russell 2000 Index.

The Broker/Dealer Index XBD:

Broker/Dealer Index.

And, just to drive the point home, here is Slope’s own calculation of the advance/decline summation, which quite plainly shows the breadth deteriorating in a series of lower lows and lower highs.

Advance/Decline Summation Chart.

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