US equity indices are seeing major divergences in the last week. The Dow is alone at the new highs. The Nasdaq is moving lower slowly, the S&P is flat, the Transports is bouncing back from a 5 wave decline, and the Russell 2000 is now in minor wave iii down from the multiple highs in the channel of the 6 month highs and lows. We can say prices are attempting to move to the lower end of the range again at 1374.
Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic and international clients. Views expressed in this article are purely of the author – Mr Rohit Srivastava – a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd