Warning signs illustrate why it’s crucial for the stock market to hit new highs soon

The stock market needs to carve out a fresh record — and soon — or else, says chart watcher Andrew Adams.

Adams suggested that the current dynamic in the market is fragile, with the Dow Jones Industrial Average DJIA, -0.36% the Nasdaq Composite Index COMP, -0.50% and the small-capitalization oriented Russell 200 index RUT, -1.00% under pressure for the past few weeks. Still, optimism could be erased if the index breaches its long-term trend line, with readings of momentum already signaling a flagging pace of gains since the last time the S&P 500 threatened a decisive break below trend :

“If that were to happen it would be coming after the S&P 500 ‘kissed’ the underside of the previous uptrend line that was in place from 2009 until late last year and after the index put in a ‘negative divergence’ by making new highs but with lower RSI readings the last two times ,” he said.

You have to look at the chart move from pre-crisis levels

...Or else 🤔

technically it has to exhale properly otherwise the fresh records won’t sustain. Let’s not push for that type of environment. :)

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

‘Godfather’ of chart analysis says Wall Street shouldn’t bet on stock-market records anytime soonProminent market technician Ralph Acampora says Wall Street needs new highs for him to be confidently bullish about the outlook for the stock markets, after...
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

Investors will soon pay zero fees for market trackers, new research suggestsFees for the world's most popular investment funds are in a race to zero, new J.P. Morgan research revealed.
La source: CNBC - 🏆 12. / 72 Lire la suite »

'The winner's curse': 3 reasons why the stock-market dominance of Facebook, Google, Amazon, and the rest of the mega-cap tech elite may soon be overOne Wall Street expert lays out a compelling case for why the sheer and utter dominance of the stock market's tech elite could be on its last legs.
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

American Express' CMO Elizabeth Rutledge: 'It's really important for us to market the marketing'AmEx CMO Elizabeth Rutledge discusses how the company works with agencies, competes with other financial services companies, and personalize its marketing. Very insightful!
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »