Obviously, since there are 2000 stocks in the measure, you can’t derive conclusive opinions about what it means. That’s weakness compared to the widely followed big name, big tech stocks that keep hitting new highs. Note that despite the similar peak levels achieved in March and in June the relative strength indicator (RSI above the price chart) and the moving average convergence/divergence indicator (MACD below the price chart) are negatively diverging from price. The Penn National Gaming weekly price chart looks like this:Penn National Gaming weekly price chart, 7 17 21. stockcharts.comThey made sure to put “National” in the company name so you wouldn’t think it’s just about gambling in Las Vegas. Caesars Entertainment’s weekly price chart looks like this:Caesars Entertainment weekly price chart, 7 17 21. stockcharts.comIt’s holding up better than the other 2 largest index components, isn’t it?

Source: Forbes July 17, 2021 16:18 UTC