NYSE Composite Breakdown, Taking Out June Lows, Another Warning To Bulls
The broader stock market has been ravished this year, with several global indices falling into bear markets.
And there may be more pain ahead.
Today we look at a 10+ year chart of the NYSE Composite. This index is broad-based and an excellent gauge of market health.
Well, it appears that the NYSE is breaking below a key price support level formed by the Pre-Covid highs and this summer’s low.
Bulls need to regain this level quickly or it will send a bearish message to the broader markets.
(Click on image to enlarge)
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