Major stock averages started in April and the second quarter with risky levels for April. The monthly risk level for the Dow Jones Industrial Average (.DJI) was 33,535 and that level was broken on Monday with a new intraday high of 33,617.95.
the S&P 500 (.SPX) had a monthly risk level for April of 4,058. This level was penetrated and maintained on Monday and Tuesday morning high is 4,086.23.
the Nasdaq Composite (.IXIC) has a monthly risk level for April at 14,076. The Nasdaq remains below this key level. The intraday all-time high of 14,175.12 was set on February 16.
the Dow Jones Transport Average (.DJT) has a monthly risk level for April at 15,152. Transportation remains below this key level with Monday’s intraday high of 14,980.07.
the Russell 2000 Index (.RUT) has a monthly risk level of 2,324. The Small Cap Index remains below this key level after setting a historic intraday high of 2360.17 on March 15.
My main trading levels come from my exclusive analyzes of my “Black Box Tool”. There are monthly risk levels (now pivotal for the Dow, S&P and transports) for April and quarterly value levels for the second quarter. Each stock market and index has monthly, quarterly, semi-annual and annual levels. A level below where a market is trading is called a value level at which to “buy when weak”. A level above where a market is trading results in a risky level at which to “force sell”.
Here is today’s dashboard: