April 17, 2023

MarketMap™ 2023 Issue #9

Action in the markets has narrowed in terms of both time and price something “got to give”

There are bearish divergences worldwide between the various major market averages. MarketMap™ pointed out last time the national problem between the transport and the OTC /small caps plus the non-confirming AD lines. Overseas you have the same between various countries major averages not confirming the strength in neighboring states.

Here are two of the old school charts showing obvious bearish signs.

By itself, the dullness of the trading range since January 1 is cause enough for a recession in the transactional driven industries let alone provide headaches for many traders.

Nevertheless, the market is still sorting out its time element. MarketMap™ left it is this way in the last issue…

This work by Jack Cahn is licensed under a Creative Commons Attribution-NonCommercial 4.0 International