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Jonathan Cho
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Independent trader currently seeking work as an analyst or trader with a hedge fund.
  • US Equities Topping Out 0 comments
    Jan 28, 2014 1:05 AM | about stocks: VGK, SPY, DIA, XLB

    US Equities appear to be putting in a long-term top. This is evident if we look at the monthly FTSE100 (NYSEARCA:VGK) chart, which US equities correlate with, and the US Materials Select Sector (NYSEARCA:XLB), which is a component index of the SP500 (NYSEARCA:SPY). Both are at monthly timeframe long-term resistance. After that, look at the Dow (NYSEARCA:DIA) correlation from the current Dow, to the Dow from 1928-1930.

    FTSE100

    (click to enlarge)

    US Materials Select Sector

    (click to enlarge)

    Dow Correlations

    (click to enlarge)

    Themes: US Equities, FTSE, SP500, Dow Stocks: VGK, SPY, DIA, XLB
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