Major Index Trends – Important Charts and Reference Points
May 6, 2011 9:00 am
Several of the major equity indices are starting to show signs of fatigue. Asian equity markets are showing a correction/bear trend as is the Russell 2000. The DJIA is still in rally mode as the large-cap industrials have been strong. In between are the Nasdaq and the S&P 500. If there are a few more days of distribution, we will clearly see all in a correction/bear trend. Below you will see a series of charts that provide some clarity on this.