🎈 Up Big Today: Find today's biggest gainers (some over 50%!) with our free screenerTry Stock Screener

Key Market Indexes Are Attempting to Break Above 2022 Highs

Published 2024-01-15, 12:38 a/m
JPM
-
QQQ
-
QQEW
-
RSP
-

After a big year-end rally, the stock market attempts to consolidate gains in January.Indices-Weekly Chart

That consolidation has several stock indices and ETFs trading near recent price highs.

Today’s chart 4-Pack highlights a key bank stock, JP Morgan (NYSE:JPM), the Invesco S&P 500® Equal Weight ETF (NYSE:RSP), the Nasdaq 100 ETF (NASDAQ:QQQ), and the Nasdaq 100 equal weight ETF (NASDAQ:QQEW).

As we mentioned, breakout tests are in play at each (1) across the board.

Breakouts at (1) would be bullish for the broader stock market.

That said, RSI is currently near the peak levels of 2-years ago. It will be interesting (and important) to see what happens here.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.