Friday, August 7, 2020

INDU and NYA: Interesting Times

I had intended to do a more complex analysis today, but technology had other plans, as I had numerous issues that slowed me down this morning.  As such, what I had planned will have to wait until Monday.

Instead, we'll simply take a quick look at INDU and NYA, neither of which are behaving like SPX:

NYA below:

In conclusion, the main takeaway from this is:

1.  Either NYA and INDU are "late to the party" and when they do at last (sustain a) breakout, everything will finally rally together and SPX will head for the moon

2.  There's some trouble under the surface, and all the available liquidity is going into SPX, with little to spare to rally the broad market.

Trade safe.

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