S&P 500 RSI Overbought for 74 weeks, Pattern Typically Bearish The S&P 500 is experiencing a significant momentum rally. The 14-week Relative Strength Index (RSI) has measured positive momentum (above 50) for 74 consecutive weeks. This is the fifth longest …
S&P 500 Developing Top
Early Signs of Head and Shoulders Top in S&P 500 Index We feel that we are getting closer and closer to a possible corrective move in the markets of at least -10%. It is long overdue and the most prudent …
S&P Correction Suggested
Confluence of Technical Indicators Suggest S&P 500 Correction At Hand For the last 7 to 9 months we have been discussing market corrections of -5%, -7% and -10%. Since the 2009 low, the average pullback in the S&P 500 has …
Margin Debt at Dangerous Levels
Margin Debt at Dangerous Levels NYSE margin debt is at all-time highs as illustrated by the accompanying “Margin Debt” chart (labeled “MARGDEBT” above). This is an indication of leverage and froth in the market place. The “MARGFREE” chart shown below …
Dow Reaches New Highs
Dow Reaches New Highs, Possible Period of Distribution The long-term chart of the Dow Jones Industrial Average has reached new highs – impressive considering the index was able to deliver these highs against a steady backdrop of global financial and …
S&P Flag Confirmed
S&P 500 Flag Confirmed New Highs Reached The second graph above represents a short-term S&P 500 (6 month) Daily chart. A few weeks ago we sent out an update indicating that the markets were at an inflection point. The S&P …
S&P 500 Inflection Point
S&P 500 Head & Shoulders or Flag The graph above represents a short-term S&P 500 (5 month) Daily chart. A few days ago we sent out an update indicating that the markets could test the 50 day moving average (1809) …