4 Market Indices Take a Turn
Investor sentiment continues to be overly optimistic and in need of some moderation.
Apr 23, 2021 | 10:55 AM EDT
All the major equity indices closed lower Thursday. However, Nasdaq internals were only slightly negative which we find interesting given the magnitude of the afternoon selloff.
Four of the charts saw their near-term uptrend lines violated, turning said trends to neutral although no violations of price support were generated.
Meanwhile, investor sentiment continues to be overly optimistic, in our opinion, and in need of some moderation.
Where does this leave markets overall? Let's investigate.
On the Charts
Source: Worden