Summary
Akhil’s August update: Dow going sideways since the May high — neither trending up nor down. US S&P500 and Nasdaq still going up but driven by only a few large stocks. Other markets sideways (ASX All Ords, German DAX) or falling gently (Nikkei, FTSE). Delta variant uncertainty is prolonging the sideways action. The broad uptrend is narrowing.
Key Claims
- Dow going sideways since the May 2021 high — not trending strongly in either direction. — confidence: high
- The US uptrend is increasingly driven by a few large stocks — breadth narrowing. — confidence: high
- Nikkei and FTSE are gently declining while US markets remain elevated. — confidence: high