Few Featured Indexes

Below I’ve selected a number of major stock indexes and have made remarks in the caption area of each.

A new lifetime high, but let’s wait until Monday to see if there’s any follow-through. This didn’t exactly blast off with any kind of zeal. It just sort of sputtered to a new high.

China, by way of the Hang Seng, continues to slowly work its way to my long-term target.

The Industrials have underperformed for months now, and the area above that dashed horizontal line isn’t a bad top.

The NASDAQ 100 had a more spirited breakout, but again, Monday’s follow-through is crucial. A gap down on Monday would be a pretty big deal for the bears, since it would create an island reversal pattern.

The S&P 100 inched higher, but did not make a new record.

The semiconductor index was quite strong, but I’ll just repeat: if, on Monday, we get a gap down, we’ll have a terrific island reversal pattern.

For all the excitement after the jobs report, the S&P 500 posted pretty much a non-event. It went up fractionally on the day and did not register a new high.

The Dow Utilities have been bashed for months and, yes, they may have a counter-trend rally at some point, but it would be nothing more than a dead cat bounce. I think this is headed much lower.