NYSE Composite Breakdown, Taking Out June Lows, Another Warning To Bulls
Chris Kimble | Sep 26, 2022 03:35PM ET
The broader stock market has been ravished this year, with several global indices falling into bear markets.
And there may be more pain ahead.
Today we look at a 10+ year chart of the NYSE Composite. This index is broad-based and an excellent gauge of market health.
Well, it appears that the NYSE is breaking below a key price support level formed by the pre-COVID highs and this summer’s low.
Bulls need to regain this level quickly or it will send a bearish message to the broader markets. Stay tuned.
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