Major Stock Market Indices Reach Critical Impasse
Chris Kimble | Jan 24, 2022 10:30AM ET
Today’s chart 4-pack illustrates why the broader stock market has reached a critical juncture this month.
Investors are feeling the heat from recent selling. Why?
Well, as the “monthly” charts above show, the Dow Jones Industrials, Dow Transports, Dow Jones Utilities, and NYSE Composite have reached long-term overhead price resistance.
While the long-term trend is still “up,” it isn’t surprising to see some selling here. That said, bulls worries will go from a correction to a bear market if selling really kicks in to end the month.
Just a theory of mine.
Active investors will likely benefit from both caution and patience in the days/weeks ahead. Stay tuned!
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.