Stocks Analysis by Declan Fallon covering: Dow Jones Industrial Average, NASDAQ Composite, Dow Jones Transportation, The Consumer Discretionary Select Sector SPDR® Fund. Read Declan Fallon's latest article on Investing.com
Now the relationship has entered a head-and-shoulder-like pattern, which suggests a potential period of weakness for Discretionary that could translate into weakness for the broader market.
While stochastics are below 50, the bearish picture is favored, but if it can break above, then a lengthy secular bull rally could emerge. suggests a period of weakness lies ahead. However, the chart of Transports looks primed for a major breakout.breadth metrics are near overbought but are mostly caught in the middle. There is no real guidance here as to what comes next.
These metrics help track the bigger picture for the indices. Price action is king, and price suggests a broader rally is favored, but if we see price drift lower, particularly if theRisk Disclosure: 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.
NASDAQ Composite Dow Jones Transportation The Consumer Discretionary Select Sector SPDR® Fu
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