Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolios

True Weakness

Published 01/29/2021, 02:38 AM
Updated 07/09/2023, 06:31 AM
US500
-
US2000
-
SPY
-
GME
-
DJA
-

By using the True Strength Index against some major equity indexes, we can see the breakdown starting to show. Here is the Dow Jones Composite:

COMP Chart

The Russell 2000:

RUT Chart

The S&P 500:

SPX Chart

And the oil & gas sector:

XOI Chart

Thursday largely undid the drop from Wednesday. We’re going to need some weakness today to give any meaningful change in trend a chance. The GME freak show will probably be a contributing member to that effort.

Latest comments

Good points indeed but I'm highlighting in my analytics the role of rotation too (see Tuesday's article). That will soften the chart impact implied here in the article. Muddle through.
Dad? Is that you?
so you think this is more than just correction and the show of gme ?
so you think this is more than just correction and the show of gme ?
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.