Green, green, green. It’s all we’ve seen for the past month. It’s getting to the point where the prospect of yet again seeing Lifetime Highs every single trading day of the month is becoming possible. Indeed, one of the few indexes that still has ANY kind of reasonable resistance point is the Dow Industrials, which is almost done closing its price gap:
In most cases, however, the index is within spitting distance of the lifetime highs that were achieved late in March. This is why the pathetic VIX is down to 12. So the NASDAQ 100 is poised for new records:
As is the NASDAQ Composite:
The semiconductor index is held at bay for the moment. Perhaps it is at the mercy of the NVDA report, which is two Wednesdays from now.
The Major Market Index has ruined its topping pattern. This, sadly, is the fate of almost topping pattern in existence for 2024.
Lastly, the S&P 500 is just one strong day away from lifetime highs. It’s more off-putting than I can put into words.
At this point, I’m starting to lose hope in more than one down day between now and the election. They’ve got this market COMPLETELY captured for political purposes, and it’s enough to want me to just turn off my computers until November.
