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The 7 companies propping up the U.S. stock market are sending a bearish warning that investors should not ignore

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Joseph Adinolfi is a markets reporter at MarketWatch.

A group of elite stocks that have driven most of this year’s rally are sending a message that could portend more losses ahead.

They tested that level again on Aug. 31, when climbed as high as 108.17, according to FactSet data. The final test arrived on Oct. 11, when they hit 107.41. “We broke the neckline, which is a bearish setup,” Kramer said during a phone interview with MarketWatch. “But if we hold here, it becomes bullish.”

Stocks have been sliding since early August as the yields on the 10-year and 30-year Treasurys climbed to their highest levels in 16 years, with the 10-year briefly piercing 5% for the first time since 2007 earlier this week, FactSet data show.

 

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Dow opens higher, lifted by Microsoft’s post-earnings rallyJoseph Adinolfi is a markets reporter at MarketWatch.
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