Topped Out? Not All Indices Are There Yet
Tim Knight | May 03, 2022 12:34AM ET
There are many trite phrases one could use to describe U.S. equities right here. Here are a few: It’s a mixed bag. The jury is still out. Your guess is as good as mine. And so forth.
From what I can see, there are some important indexes which have absolutely completed important topping patterns, and there are some others that have some more work to do. I’ve broken this groups, respectively, into some charts that are “There” which includes the Russell 2000, the NASDAQ Composite, the S&P Small Cap 600, the Russell 3000 and the NYSE TMT. Then there are those which are simply “On the Brink” including the S&P 500, S&P 100, Dow Jones Composite and the Dow Jones Large Cap indexes:
h2 There/h2
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The tumult we’re going to be seeing over the next 72 hours is going to be quite a sight, but in my opinion, once it’s done, it hardly even matters. The die has been cast. We just need the rest of the gang to wake up and realize what’s going on.
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