Indicators Showing Major Indexes Are Weakening Despite New Highs
Tim Knight | Jul 27, 2021 10:38AM ET
Since every weekday is accompanied by lifetime highs, I thought I’d share a few major index charts with the Commodity Channel Index and %R indicators to show that, beneath the surface, things are actually weakening. Honest! Here’s the Dow Jones Composite:
The Russell 2000 small caps:
The Broker/Dealer Index XBD:
And, just to drive the point home, here is Slope’s own calculation of the advance/decline summation, which quite plainly shows the breadth deteriorating in a series of lower lows and lower highs.
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