Here are some musings about the big indexes, as noted in captions:
exhaustion finally took hold this week, with trade war concerns bubbling once morevolatility was in a free-fall for weeks but finally bottomed out last Fridaythe dow utilities have respected the trendline as resistance for months nowthe semiconductor index has maintained its series of lower highs; importantly, NVDA reports after the close on Wednesdaysmall caps have been banging inside their Fibonaccis for years now; for some reason, the cash market shows the closest Fib as support, whereas the /RTY futures show it as resistancetech stocks got close to the midline but are weakening away, illustrating that midline’s importance as resistancethe dow industrials is challenging its half-decade trendline once morelooking closer, we can see the NASDAQ composite pushed toward its remaining overhead supply and is starting to sell off for the first time in weeks
