With a market capitalization of around $16 trillion, the NYSE Composite Index is a massively broad equity indicator less affected by the day to day gyrations of AAPL, TSLA, BABA, or NFLX. As NewEdge’s Brad Wishak remarks, the world’s largest market cap equity index is painting a very different picture than that of the Dow or S&P 500…
Not only is there no breakout to new highs, you have a potential failure developing, not only at old swing resistance but more importantly at the old uptrend line.
