Thursday, April 21, 2016

Equities near All time Highs? Not according to this chart

Lately many major US equity indexes are marching higher,  approaching the previous All Time Highs (ATH)

However the Geometric Index is in a clear DOWNtrend

We noted, very early, that Geometric index never confirmed equities ATH in mid2015 (Geometric Value Line Index:Never confirmed the SPX all time highs)
Regarding Geometric index and its significance (from wiki:Value Line Composite Index).