Since Q1 2009 the stock market has, to say the least, been on an absolute rip higher! Will this continue into 2015? Personally, I think there’s more upside to this market, but before we take a look at charts, let’s look at some astonishing performance numbers. From the 2009 lows to the current highs, the Dow Jones Industrial Average (DJIA), NASDAQ Composite (COMPQ), S&P 500 (SPX) and the Russell 2000 (RUT) have advanced as follows:
- DJI +179.80%
- COMP +280.47%
- SPX + 213.97%
- RUT +256.34%
Yeah, that’s what I said also, WOW!
Now we’re going to walk through eight charts – a 10 year and a 1 year for each of the aforementioned stock market indices – looking for clues if this upside move will be sustained into 2015.
Dow Jones Industrial Average 10 Year, Weekly chart
In the 1 Year chart below, you’ll see the Dow is at a very crucial point of either breaking out or being rejected near the 2014 high.
Dow Jones Industrial Average 1 Year, Daily chart
Now let’s turn our attention to the NASDAQ and let the charts do the talking.
NASDAQ Composite 10 Year, Weekly chart
In the 1 year chart below, you’ll see the NASDAQ, like the Dow, is at a very crucial point of either breaking out or being rejected near the 2014 high.
NASDAQ Composite 1 Year Chart
Now let’s take a look at the S&P 500 Index.
Standard and Poor’s 500 Index 10 Year, Weekly chart
And once again, in the 1 year chart below, like the Dow and NASDAQ,  you can see the S&P is at a very crucial point of either breaking out or being rejected near the 2014 high.
Standard and Poor’s 500 Index 1 Year, Daily chart
Lastly, let’s look at the small caps index, The Russell 2000.
Russell 2000 Index 10 Year, Weekly chart
No surprises here either. In the 1 year chart below, you can see the Russell is at a very crucial point of either breaking out or being rejected near the 2014 high.
Russell 2000 Index 1 Year, daily chart
I wouldn’t be overly concerned with the price action of any of the above major stock market indices the rest of this week but on January 5th, 2015 keep a keen eye on these “make or break†levels as volume returns and the “Santa Clause†period winds down.
Trade safe!
This post originally appeared on See It Market