Chart Chatter
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The Transports had a big day today, and have now jumped more than 38 percent in four weeks. And you wonder why some are using the term ‘overbought’. |
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Most of the major indices were able to edge out above last week’s highs, but some of them struggled to hold those levels. Of the ‘big three’, the Nasdaq has the least amount of overhead resistance at this point. |
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If we draw a poor man’s ‘regression’ line through the S&P chart, it’s as if February and March never happened. |
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The VIX has been a pretty useless indicator of late, barely budging despite the big drop in February and the recovery rally in March. |
Charts courtesy of StockCharts.com
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