• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Major Stock Indexes Are Faltering
Stock

Major Stock Indexes Are Faltering

by January 19, 2023
by January 19, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

At the end of November the Dow Jones Industrial Average ETF (DIA) advanced just above +20% from its October low and officially entered a new bull market; however, technically, an intermediate-term rising trend had not been established. There is a bottom above the September bottom (green arrows), but there is not yet a top above the November top. In fact the last top is lower than the November top, and the next thing we are looking for is for price to fall below the December bottom to establish a new falling trend. The PMO (Price Momentum Oscillator) has topped and crossed down through the signal line (PMO SELL Signal).

Other major indexes have also faltered. The S&P 500 (SPY) never made it to bull market territory. It also failed to establish a new rising trend, and its PMO has topped.

The S&P 400 Mid-Cap (MDY) actually did make a higher top, but it has turned down and formed a bearish rising wedge.

The S&P 600 Small-Cap (IJR) is similar to SPY and DIA.

While the broad market has rallied off the October lows, the Nasdaq Composite (ONEQ) has been dead in the water, rallying only +11%. The best that can be said about at present is that it has formed a bullish falling wedge.

Conclusion: While the Dow managed to advance into bull territory, other major indexes remain in bear markets. The enthusiasm that helped the market rally out of the October lows is fading, and current signs are that the rising trend will be abandoned and a new falling trend established. It is not too late for the bull to be revived, but at this point the market appears to be turning down.

Watch the latest episode of DecisionPoint on StockCharts TV’s YouTube channel here!

Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin

(c) Copyright 2023 DecisionPoint.com

Helpful DecisionPoint Links:

DecisionPoint Alert Chart List

DecisionPoint Golden Cross/Silver Cross Index Chart List

DecisionPoint Sector Chart List

DecisionPoint Chart Gallery

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking

Bear Market Rules

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

You Might Also Like
  • MEM TV: Here’s How to Trade Explosive Stocks After Earnings
  • Gap’s Stock Defies Gravity: Time To Exploit Its Dynamic Surge?
  • Bearish Formation Threatens Gold’s Advance
  • Is the Bull Market Back? Watch These Charts
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Berg Insight says 56.8 million patients worldwide are remotely monitored
next post
George Santos trashes report claiming he ‘let a dog die,’ vows negative coverage ‘won’t stop me’

You may also like

Keeping Up with 3 Key Ratios in a Trading Range

March 27, 2023

An Incredible Stock Market Rally Closes the Week on a...

November 3, 2023

Meme Stock Frenzy Back In the Spotlight: Are Traders Losing...

May 14, 2024

Stock Indexes Continue Winning Streak: Growth Stocks Still In the...

November 9, 2023

Q4 Stock Market Outlook: 3 Analysts, 3 Insights

September 19, 2023

Analyzing SIL, USO, and NVDA: Could These Bullish Patterns Trigger?

May 29, 2025

Larry Williams: Dow 40k, Cycle Analysis, and Lessons Learned

May 17, 2024

How RRG Helps To Find Two Pair Trading Opportunities

November 24, 2023

Technical Indicator Showdown: MACD vs. PPO vs. PMO

May 24, 2024

Useful Directional Indicator Criteria for Your Success as a Trader!

December 7, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025
    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Top 5 Stocks in “Go” Trends...

    May 31, 2024

    What Lies Ahead For End-of-the-Year Equities?

    December 8, 2023

    Find Trades Using These POWERFUL MACD...

    July 17, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here