All the major U.S. stock market indices are at important levels right now. From the Dow Jones Industrial Average to the NASDAQ to the S&P 500 to the Russell 2000, the setups may vary, but the price levels are important.
In the following 4 charts of the major stock market indices, you’ll see long term trend lines that have either been cleared or price is nearing now.
Here’s a high level overview of what the charts are saying and what levels investors should be watching:
- The Dow is pushing against it now.
- The NASDAQ has cleared and held above the trend line for 1 month now.
- The S&P 500 is currently sitting on the trend line.
- The Russell 2000 is approximately 30 points under the trend line.
- Above the trend line are highs that will need to be broken to keep the bull market intact.
Dow Jones Industrial Average – 5 year, weekly chart
NASDAQ Composite – 5 year, weekly chart
Standard & Poor’s 500 Index – 5 year, weekly chart
Russell 2000 Index – 5 year, weekly chart
Watch these levels closely; they will yield clues as to whether the bull market has more upside or is becoming exhausted.
Thanks for reading and always use a stop.
This post originally appeared on See It Market