Two Ways to Confirm a Market Top:
- The weekly charts need to shift to negative. This happens when weekly closes are below the five-week modified moving averages at 14,495 Dow Industrials, 1556.5 S&P 500, 3233 Nasdaq, 6071 Dow transports and 928.85 Russell 2000 with 12x3x3 weekly slow stochastic readings declining below 80.00 on a scale of 00.00 and 100.00. Only transports and Russell 2000 have readings declining below 80.00.
- Another confirmation comes from my proprietary analytics. A weekly close below my semiannual value level at 14,323 Dow Industrials.