My custom Equal Weight Bellwether Stock Index, comprising 15 components, has reached year-to-date highs.
Here’s the chart:
Let's break down what this table shows:
The blue line is our custom Equal Weight Bellwether Stock Index price, and the stocks within the index are Alcoa, Apple, AMD, Amazon, Boeing, Caterpillar, Walt Disney, FedEx, General Electric, General Motors, Johnson & Johnson, JPMorgan Chase, McDonald's, Walmart and Exxon Mobil.
The Takeaway: Bellwether stocks are large, well-established, and widely followed companies. These 15 stocks act as an excellent barometer for the stock market as a whole, and in healthy bull markets, bellwether stocks usually move upwards, and that’s exactly what's been happening for the past 2.5 years.
These 15 stocks give us valuable insights into whether overall market conditions are shifting. Currently, this index continues to rise steadily and has been consolidating in a constructive manner. Until we observe a change in this pattern, we should maintain a bullish outlook and we want to continue to take advantage of this bull market.
Grant Hawkridge | Chief Aussie Operator, All Star Charts
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