How Do America's Biggest Stocks Look?
October 23, 2019
Here is an equally-weighted index of the top 10 stocks in America by market-cap. We've been in an uptrend and we're above the highs from last year. The question remaining is how this consolidation resolves:
It is most certainly vulnerable to put in a failed breakout and completely collapse from here:
Or this could just be a normal consolidation resolving in the direction of the underlying trend:
Come up with you own conclusion here. But either way, it looks to me like the resolution out of this group is going to tell us a lot about the direction of the overall stock market through the end of 2019 and beyond.
JC