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U.S. Indexes Break Out; Technicals Signal Strong Uptrend In Play

Published 10/03/2017, 06:01 AM
Updated 07/09/2023, 06:31 AM
NDX
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US500
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DJI
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US2000
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IXIC
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DJT
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NYA
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IWB
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IWC
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RUATU
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All the different US stock market indexes—including the S&P 500, Dow Jones Industrial Average, Dow Jones Transports, NYSE Composite, Russell 3000, Russell 2000, NASDAQ 100, NASDAQ Composite and the iShares Russell 1000 ETF (NYSE:IWB), have now broken out above the top rail of their rising patterns, except for the two tech indexes.

The iShares Micro-Cap Fund (NYSE:IWC), indicates that small caps continue to be the strongest sector within the group.

Check out the comprehensive chart below. I know it may not feel like it, but rising wedges and flags that slope up in the same direction of the uptrend tell us the uptrend is very strong.

SPX Daily Chart

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