Dow Transports, Russell 2000 And Semiconductors Ended Last Week Negative. What Are Their Charts Warning Now?

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The Dow Jones Transport Average (DJT), the Russell 2000 Index (RUT) and the Philadelphia Semiconductor Index (SOX) ended last week with negative weekly charts.

This warning was extended at Monday’s open as all six averages I follow had price gaps lower. The Dow Jones Industrial Average (DJI) quickly broke below its five-week modified moving average at 34,318. This forced a decline in its 12x3x3 weekly slow stochastic reading. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) remain overbought but are sliding below their five-week MMAs at 4,266.00 and 14,235.35.

Weekly Chart for the Dow Jones Industrial Average
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The Dow Jones Industrial Average (33,911) has a negative weekly chart. Its below its five-week modified moving average at 34,318 with its 12x3x3 weekly slow stochastic reading declining at 71.66. There is a double-top during the weeks of May 14 and July 16. Its annual, semiannual and quarterly value levels are 33,425, 32,997 and 31,968, respectively, with its monthly risky level at 38,287.

Weekly Chart for the S&P 500
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The S&P 500 Index (4,259.82) has a neutral weekly chart. It’s below its five-week modified moving average at 4,267.79 with its 12x3x3 weekly slow stochastic reading overbought at 88.74, declining below 90.00, which was an inflating parabolic bubble. Its quarterly, annual and semiannual value levels are 4,075, 3,932 and 3,810, respectively.

Weekl7y Chaet fir the Nasdaq Composite
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The Nasdaq Composite (14,284.40) has a neutral weekly chart. It’s trading back and forth around its five-week modified moving average at 14,248.50 with its 12x3x3 weekly slow stochastic reading overbought at 87.51. Its semiannual and annual value levels are 12,465 and 12,000, respectively with a quarterly pivot at 14,447 and monthly risky level at 16,047.

Weekly Chart for the Dow Transportation Average
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The Dow Jones Transport Average (14,275.00) has a negative weekly chart. It’s below its five-week modified moving average at 14,814.79 with its 12x3x3 weekly slow stochastic reading declining at 25.73. Its semiannual and quarterly value levels are 13,258 and 13,160 with its annual pivot at 14,424 and monthly risky level at 16,864.

Weekly Chart for the Russell 2000
Refinitiv

The Russell 2000 Index (2,150.60) has a negative weekly chart. It’s below its five-week modified moving average at 2,237.26 with its 12x3x3 weekly slow stochastic reading declining at 56.16. There is a double-top during the weeks of March 19 and June 6. Its quarterly and semiannual value levels are 2,013 and 1,921 with an annual pivot at 2,120 and monthly risky level at 2,782.

Weekly Chart for the Semiconductor Index
Refinitiv

The Philadelphia Semiconductor Index (3,133.57) has a negative weekly chart. It’s below its five-week modified moving average at 3,186.58 with its 12x3x3 weekly slow stochastic reading declining at 75.27. Its semiannual and annual value levels are 2,727, and 2,424 with its quarterly and monthly risky levels at 3,378 and 3,870. The quarterly risky level was nearly tested at last week’s high.

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