Basing for the Final Rally?

The intraday actions of the three main U.S. stock indices appears they may be basing for another, perhaps final rally.

The 15 – minute chart of the Dow Jones Industrial Average (DJI), S&P 500 (SPX), and Nasdaq Composite (IXIC) courtesy of Trading View illustrates what’s been happening.

At the close of the 01/25/24 trading session the DJI had retraced 83.5% of the decline from its all-time high.

The SPX had retraced 77.1% of its post all-time high decline.

IXIC had retraced 38.3% of its post all–time decline.

The DJI and SPX have the best chance of another all-time high being made on 01/26/24.

The important factor to watch for is only one of the three main U.S. stock indices making a new all-time high.  If this phenomenon occurs it could be signaling a major peak for U.S. stocks.