Major Stock Indexes Update
Attached is the updated major equity index charts and relative performance table.
I wrote last week about the Vix moving to the top of the relative performance table and that a close above 18.20 this week would move it into Stage 2A. Well we got that this week as the Vix moved higher and extended it's lead on the relative performance table. However, there were a number of interesting developments this week as well with the 30 week WMA momentum breaking down on the S&P 500 and clearer Stage 3 tops beginning to form in the major US markets.
The European markets fared worse however, with the Dax also in Stage 3, and the FTSE 100 breaking down below it's 2013 lows to move into early Stage 4A. Both of which can be seen with their declining positions on the relative performance table below.
US Stock Indexes
European Stock Indexes
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.