US Stocks Breaking Down

The $NDX (Nasdaq 100) is breaking down today along with the $SPX (S&P 500). These two large cap indices represent the bulk of the stock market so when they go, so goes the market. Barring a substantial reversal into the close today, with about 30 minutes left in the trading session, both the $NDX & $SPX will likely close below their respective bearish rising wedge patterns, thereby triggering sell signals that have the potential to lead to an intermediate & possibly even a long-term trend reversal in US equities. Updated daily charts of the $NDX & $SPX below. Live versions of these chart are available on the right-hand sidebar of the home page.

2015-06-08T15:41:40+00:00 Jun 8, 2015 3:37pm|Categories: Equity Market Analysis|Tags: , , , |Comments Off on US Stocks Breaking Down