NEW YORK ( TheStreet) -- Here we go again trying to confirm recent market highs as cycle highs. All five of the major equity averages must have negative weekly chart profiles simultaneously. That won't happen this week as the weekly charts for the Nasdaq Composite and Russell 2000 remain positive but overbought.The weekly charts attempted to time the May highs as cycle highs, but all five of the major equity averages didn't shift to negative.
Confirming Cycle Highs Remains Elusive
Check Out Our Best Services for Investors
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.