Pick of the Litter

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Let’s take a walk through Cash Index Park and make a few observations. We start with the Dow Jones Composite, which needs to remain below the demarcation below to give the bears a fighting chance.

slopechart COMP

The NASDAQ has been stronger, but reversed away from its double top today.

slopechart COMPQ

The Dow Transportation Index broke its trendline weeks ago and is slowly weakening.

slopechart TRAN

Crude oil has been extremely strong lately, but that strength has not ruined the long-term bearish setup for the oil and gas index.

slopechart XOI

Of course, volatility got its ever-loving life squeezed out of it within days. Sad. Just sad.

slopechart VIX

The greatest chart still going is the terminal wedge on the S&P 500. That’s all, folks!

slopechart SPX