A "Rule of the Majority Signal" occurs when one of the three main U.S. stock indices; SPX, IXIC, and DJI, makes a new high/low unaccompanied by the other two indices.
The new trend of the U.S. stock market is with the two non confirming indices.
There was a bearish Rule of the Majority signal on 05/22/23 when only IXIC made a new post October 2022 high.
On 05/22/23 the IXIC - Nasdaq Composite made a new post October 2022 rally high.
On 05/19/23 the SPX made its post October 2022 rally high.
On 12/13/22 the DJI made its post October 2022 rally high.
This type of signal indicates broad bearish momentum for U.S. stocks.
Stocks are seasonally bearish from May to October. Its possible that U.S. stocks could decline to at least the the October 2022 bottom and perhaps lower.
The new trend of the U.S. stock market is with the two non confirming indices.
There was a bearish Rule of the Majority signal on 05/22/23 when only IXIC made a new post October 2022 high.
On 05/22/23 the IXIC - Nasdaq Composite made a new post October 2022 rally high.
On 05/19/23 the SPX made its post October 2022 rally high.
On 12/13/22 the DJI made its post October 2022 rally high.
This type of signal indicates broad bearish momentum for U.S. stocks.
Stocks are seasonally bearish from May to October. Its possible that U.S. stocks could decline to at least the the October 2022 bottom and perhaps lower.
