The OEX is a lesser known stock market index in the United States, which comprises the top 100 stocks trading on the NYSE by market capitalisation. The OEX Index made new all times highs in August 2018 but as you can see on the chart, despite new all time highs,, the relative strength and momentum indicators are not confirming the move. Volume is also dropping off as the market rallies, suggesting the trend is running out of steam. Perhaps a correction or at least a consolidation is finally due. Selling pressure has been absent to date and investor confidence is running high, but I expect the stock market to at least pause for breath this month.
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