Multi-decade triple top points to decline in US equities
WITH the major US equity indices such as Dow Jones Industrial Average (DJIA), S&P 500 and Nasdaq 100, breaking record highs, one would expect the broader market to be performing similarly well.
However, looking beneath the surface with the Value Line Geometric Index (VLG), a very different story emerged. We found the market is structurally weak. VLG is a better gauge of the health of all the stocks rather than just the large caps.
VLG is derived from an equally weighted index of 1,675 companies from the Amex, NYSE, Nasdaq and OTC market. On the other hand, the DJIA, S&P 500 and Nasdaq 100 are market weighted indices where the big boys dictate the performance.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance