More Bearish Evidence

On 05/18/23 the S&P 500 (SPX)  made a new post October 2022 rally high and invalidated a bearish “Rule of the majority” signal.  Today 05/22/23 the Nasdaq Composite (IXIC)  was the only one of the three main U.S. stock indices to make a new post October 2022 rally high.  A bearish rule of majority signal.

The daily IXIC, SPX, and Dow Jones Industrial Average (DJI) illustrates their relationship.

When the IXIC starts declining it could be the beginning of a multi-month drop for U.S. stocks.


Published by Mark Rivest

Independent investment advisor, trader, and writer. Articles have appeared on Technical Analysis of Stocks and Commodities , Advantage,, and Finance Magnates.

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