9/22/2026
The SPX is within 1% of its former high. But the percentage of new lows has increased. According to Jason Goepfert of nextgennews, there have onlyu been two days before when teh SOX rallied to at least 1% to within 1% of a new high and more stocks declined to new lows than new highs. July 23, 1929 and December 21, 1999. Both dates preceded important tops in the market. First the October 1929 crash and then the dot.com high in March 2000.
Crude Oil
Trump contemplates meeting the Iran whoever guy at the UN this week.
Smaller oil firms like Apache APA are more sensitive to oil price changes. this hasw been quite the three month rally. the big winners have been the refiners, Valero VLO has jumped in this time frame from 220 to 420 and is off that high today.
Wal Mart jumped 2.49% to meet its down trend line.
Let's see if it surmounts that line this week.
For now I am still looking fora top in the markets, The DOW components of Industrials Transports and Utilities have all their highs behind them. Not bolstered by tech stocks like SPX and NDX it is sagging.
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