Are we on the verge of a new phase in the bull market? According to Raymond James, the absence of the Nasdaq 100 from the list of new record highs in October is starting to raise some eyebrows.
Quantitative and technical strategist Javed Mirza highlighted in a recent note to clients that the Nasdaq 100 has not reached a record high since July. This tech-heavy index’s struggle may indicate a potential shift in the market, signaling that the bull market could be approaching a peak.
At Extreme Investor Network, we pay close attention to these signals and look beyond just the numbers. Mirza points out that the Nasdaq 100’s failure to reclaim its July highs while other indices like the S&P 500 and Dow Jones Industrials soar to new all-time highs is a concerning trend.
Technical indicators are also flashing warning signs for the Nasdaq 100, with Mirza noting a new short-term “mechanical sell” signal. This divergence from other North American equity indices suggests that a shift in investor sentiment may be underway.
But what other factors are pointing towards a new phase in the bull market? Mirza mentions the Cboe Volatility Index (VIX) showing higher lows, the TSX Composite outperforming the S&P 500, and WTI crude oil prices surpassing $94 per barrel as additional indicators.
While the late stages of a bull market can linger for some time, it’s essential to stay informed and prepared for any potential changes. At Extreme Investor Network, we believe in providing valuable insights and analysis to help you navigate the ever-changing landscape of investing.
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