Guy Ortmann is Senior Technical Analyst and Director of Research at Scarsdale Equities, a boutique investment banking firm in New York. He is a  Chartered Market Technician as well as  a registered fundamental research analyst  (series 86, 87, 7, 63, 24) with almost 30 years of  experience on Wall Street.Expand

His technical research involves general markets, sector specifics and individual equities, that have been noted in  Forbes, Reuters, Dow Jones Newswire among other publications.Collapse

The Nasdaq is the only index currently in a near-term uptrend.
Forward multiples are at a 12-year high, but the crowd seems complacent -- so far.
These companies show signs of a change of direction.
But whether it can break on through remains to be seen.
These companies show signs of a change of direction.
Valuation, investor psychology and price extensions are becoming concerning.
All indices are above their 50-day moving averages, which remains a concern.
More negative price action would be required to turn the picture negative.
They've shown bullish or bearish reversals in the past week.
We maintain our near-term 'neutral' outlook for the major equity indices.

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