The Market Perspective: Counter Trend Stock Rally is Ending

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June 09, 2022

Counter Trend Stock Rally is Ending

Thursday June 9 2022

Transports and Small Caps lead and they are leading the way down. Wed Transports dropped a whopping 3.8%, in one day. the dwn trend from the November high could not be more clear.

two Hour View

PMO is bending over, note the index di not exceed the earlier high of May 19.

S & P Small Cap looks much the same

Small cap index failed right above the 20 bar MA on this two hour chart.

Industrials - again a lower high and flat lined PMO

while stocks are looking toppy bonds are seeking a low registering a small bounce in price the last few days.

Posted at 04:30 AM in Stock Market | Permalink

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The Market Perspective

Market Commentary by Dennis Elam dennislelam@gmail.com

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