The most recent highs on the SPX have printed bearish divergence on the RSI - as price has now failed to breach local highs in the short term, I would suggest we will see a break of the trend line to the downside on high volume.
This will form our phase C of the re-accumulation I suspect Is occurring at the time of writing.
The nasdaq has printed a double top over the last couple of weeks. If this hold and is followed by a break to the downside, I would expect the SPX to follow. Lets see how it plays out.
This will form our phase C of the re-accumulation I suspect Is occurring at the time of writing.
The nasdaq has printed a double top over the last couple of weeks. If this hold and is followed by a break to the downside, I would expect the SPX to follow. Lets see how it plays out.