



Trends and Topics




TNT Bottoming Indicator - Daily
Date DailyLows SP500
7/6/26 -2.17 7537
7/7/26 0.33 7504
7/8/26 -1.33 7483
7/9/26 -3.17 7544
7/10/26 -2.67 7575
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
7/6/26 8.0 26121
7/7/26 8.0 25819
7/8/26 7.8 25871
7/9/26 8.0 26207
7/10/26 8.2 26282
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
6/26/26 5.0 7354
7/2/26 2.6 7483
7/10/26 1.2 7575
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
6/26/26 7.0 7354
7/2/26 7.4 7483
7/10/26 7.4 7575
TNT Bottoming Indicator - Daily
Date DailyLows SP500
6/29/26 -1.33 7440
6/30/26 -2.17 7499
7/1/26 -1.83 7483
7/2/26 -0.33 7483
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
6/29/26 7.8 25820
6/30/26 7.6 26214
7/1/26 7.4 26040
7/2/26 7.6 25833
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
6/18/26 4.4 7501
6/26/26 5.0 7354
7/2/26 2.6 7483
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
6/18/26 6.8 7501
6/26/26 7.0 7354
7/2/26 7.4 7483
TNT Bottoming Indicator - Daily
Date DailyLows SP500
6/22/26 3.0 7473
6/23/26 -0.5 7365
6/24/26 -2.67 7358
6/25/26 -2.83 7357
6/26/26 1.00 7354
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
6/22/26 7.2 26167
6/23/26 7.2 25587
6/24/26 7.2 25477
6/25/26 7.0 25359
6/26/26 6.8 25298
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
6/12/26 4.2 7431
6/18/26 4.4 7501
6/26/26 5.0 7354
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
6/12/26 4.2 7431
6/18/26 6.8 7501
6/26/26 7.0 7354
TNT Bottoming Indicator - Daily
Date DailyLows SP500
6/15/26 3.33 7554
6/16/26 1.17 7511
6/17/26 1.17 7420
6/18/26 -0.83 7501
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
6/15/26 7.0 26684
6/16/26 7.2 26376
6/17/26 7.2 26022
6/18/26 7.2 26518
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
6/5/26 4.8 7384
6/12/26 4.2 7431
6/18/26 4.4 7501
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
6/5/26 6.0 7384
6/12/26 4.2 7431
6/18/26 6.8 7501
TNT Bottoming Indicator - Daily
Date DailyLows SP500
6/8/26 1.5 7406
6/9/26 -0.17 7387
6/10/26 1.67 7267
6/11/26 0.17 7394
6/12/26 1.83 7431
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
6/8/26 7.4 25930
6/9/26 7.4 25679
6/10/26 7.2 25170
6/11/26 7.0 25810
6/12/26 7.2 25889
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
5/29/26 1.8 7580
6/5/26 4.8 7384
6/12/26 4.2 7431
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
5/29/26 6.6 7580
6/5/26 6.0 7384
6/12/26 4.2 7431
TNT Bottoming Indicator - Daily
Date DailyLows SP500
6/1/26 5.17 7600
6/2/26 1.67 7610
6/3/26 3.33 7554
6/4/26 -0.83 7584
6/5/26 2.00 7384
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
6/1/26 6.2 27087
6/2/26 6.6 27094
6/3/26 6.6 26854
6/4/26 6.6 26831
6/5/26 7.0 25709
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
5/22/26 -0.2 7473
5/29/26 1.8 7580
6/5/26 4.8 7384
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
5/22/26 6.4 7473
5/29/26 6.6 7580
6/5/26 6.0 7384
TNT Bottoming Indicator - Daily
Date DailyLows SP500
5/26/26 2.67 7519
5/27/26 4.17 7520
5/28/26 2.33 7564
5/29/26 4.67 7580
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
5/26/26 8.0 26656
5/27/26 7.8 26675
5/28/26 7.8 26917
5/29/26 7.6 26973
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
5/15/26 4.0 7409
5/22/26 -0.2 7473
5/29/26 1.8 7580
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
5/15/26 6.2 7409
5/22/26 6.4 7473
5/29/26 6.6 7580
TNT Bottoming Indicator - Daily
Date DailyLows SP500
5/18/26 -1.17 7403
5/19/26 -0.50 7354
5/20/26 -4.50 7433
5/21/26 1.00 7446
5/22/26 2.17 7473
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
5/18/26 8.4 26091
5/19/26 8.4 25871
5/20/26 8.4 26270
5/21/26 8.4 26293
5/22/26 8.6 26344
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
5/8/26 2.4 7399
5/15/26 4.0 7409
5/22/26 -0.2 7473
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
5/8/26 6.2 7399
5/15/26 6.2 7409
5/22/26 6.4 7473
TNT Bottoming Indicator - Daily
Date DailyLows SP500
5/11/26 2.17 7413
5/12/26 -1.50 7401
5/13/26 0.50 7444
5/14/26 -0.83 7501
5/15/26 1.17 7409
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
5/11/26 6.4 26274
5/12/26 6.6 26088
5/13/26 6.6 26402
5/14/26 6.8 26635
5/15/26 6.8 26225
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
5/1/26 4.0 7174
5/8/26 2.4 7399
5/15/26 4.0 7409
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
5/1/26 6.2 7174
5/8/26 6.2 7399
5/15/26 6.2 7409
TNT Bottoming Indicator - Daily
Date DailyLows SP500
5/4/26 1.83 7201
5/5/26 -2.33 7259
5/6/26 -1.83 7365
5/7/26 -1.33 7337
5/8/26 -1.67 7399
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
5/4/26 6.2 25068
5/5/26 6.4 25326
5/6/26 6.2 25839
5/7/26 6.6 25806
5/8/26 7.2 26247
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
4/24/26 5.2 7165
5/1/26 4.0 7174
5/8/26 2.4 7399
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
4/24/26 6.4 7165
5/1/26 6.2 7174
5/8/26 6.2 7399

The 65-day SMA of the SP500 divided by the 200-day SMA is interesting. A value 1.09 or above has generally been associated with an advancing market. A value of 0.925 or below has been associated with a market bottom.
TNT Bottoming Indicator - Daily
Date DailyLows SP500
4/27/26 -0.17 7174
4/28/26 -1.00 7139
4/29/26 0.50 7136
4/30/26 -4.50 7209
5/1/26 -0.17 7230
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
4/27/26 5.0 24887
4/28/26 4.8 24664
4/29/26 5.0 24673
4/30/26 4.8 24892
5/1/26 5.2 25114
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
4/17/26 1.0 7126
4/24/26 5.2 7165
5/1/26 4.0 7174
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
4/17/26 6.4 7126
4/24/26 6.4 7165
5/1/26 6.2 7174
TNT Bottoming Indicator - Daily
Date DailyLows SP500
4/20/26 -0.17 7126
4/21/26 2.33 7109
4/22/26 -1.67 7138
4/23/26 -2.00 7108
4/24/26 -1.00 7165
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
4/20/26 4.2 24404
4/21/26 4.2 24260
4/22/26 4.2 24658
4/23/26 4.0 24439
4/24/26 4.6 24837
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
4/10/26 1.6 6817
4/17/26 1.0 7126
4/24/26 5.2 7165
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
4/10/26 5.6 6817
4/17/26 6.4 7126
4/24/26 6.4 7165
TNT Bottoming Indicator - Daily
Date DailyLows SP500
4/13/26 -1.83 6886
4/14/26 -1.17 6967
4/15/26 -1.17 7023
4/16/26 1.33 7041
4/17/26 -1.67 7126
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
4/13/26 5.4 23184
4/14/26 5.6 23639
4/15/26 6.0 24016
4/16/26 6.0 24103
4/17/26 5.6 24468
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
4/2/26 -1.2 6583
4/10/26 1.6 6817
4/17/26 1.0 7126
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
4/2/26 6.4 6583
4/10/26 5.6 6817
4/17/26 6.4 7126
TNT Bottoming Indicator - Daily
Date DailyLows SP500
4/6/26 -1.50 6612
4/7/26 -1.67 6617
4/8/26 -4.17 6783
4/9/26 -3.83 6825
4/10/26 -1.67 6817
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
4/6/26 5.6 21996
4/7/26 5.4 22018
4/8/26 5.2 22635
4/9/26 5.2 22822
4/10/26 5.4 22903
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
3/27/26 -4.6 6369
4/2/26 -1.2 6583
4/10/26 1.6 6817
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
3/27/26 6.6 6369
4/2/26 6.4 6583
4/10/26 5.6 6817
TNT Bottoming Indicator - Daily
Date DailyLows SP500
3/30/26 -3.67 6344
3/31/26 -1.67 6529
4/1/26 -4.67 6575
4/2/26 -2.50 6583
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
3/30/26 6.4 21795
3/31/26 6.2 21591
4/1/26 6.0 21841
4/2/26 6.4 21879
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
3/20/26 -4.2 6506
3/27/26 -4.6 6369
4/2/26 -1.2 6583
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
3/20/26 7.4 6506
3/27/26 6.6 6369
4/2/26 6.4 6583
TNT Bottoming Indicator - Daily
Date DailyLows SP500
3/23/26 -2.83 6581
3/24/26 -2.50 6556
3/25/26 -3.50 6592
3/26/26 -1.17 6477
3/27/26 -2.00 6369
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
3/23/26 6.6 21947
3/24/26 6.8 21762
3/25/26 6.8 21930
3/26/26 6.6 21408
3/27/26 6.6 20948
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
3/13/26 -2.8 6632
3/20/26 -4.2 6506
3/27/26 -4.6 6369
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
3/13/26 7.8 6632
3/20/26 7.4 6506
3/27/26 6.6 6369
TNT Bottoming Indicator - Daily
Date DailyLows SP500
3/16/26 -2.67 6699
3/17/26 -1.17 6716
3/18/26 2.33 6625
3/19/26 -0.33 6606
3/20/26 1.67 6506
TNT Topping Indicator - Daily
Date DailyTops NASDAQ
3/16/26 4.8 22374
3/17/26 4.8 22480
3/18/26 4.6 22152
3/19/26 4.6 22091
3/20/26 4.6 21648
TNT Bottoming Indicator - Weekly
Date WeeklyLows SP500
3/6/26 -0.4 6740
3/13/26 -2.8 6632
3/20/26 -4.2 6506
TNT Topping Indicator - Weekly
Date WeeklyTops SP500
3/6/26 8.2 6740
3/13/26 7.8 6632
3/20/26 7.4 6506

The NASDAQ High Low Index has forged to record levels. Here is a current chart, showing the Index versus the NASDAQ price. For the sake of clarity, only the days that the Index has been over a value of 0.0225 are shown. An explanation of the derivation of the Index can be found in the 2nd Edition of Robert Colby's 'The Encyclopedia of Technical Market Indicators'. Decide for yourself the degree to which this Index correlates with market tops.