Are Clouds Gathering for This Market?
Are Clouds Gathering for This Market? S&P 500 breadth remains on bearish divergence. Some more worrying signs appear to be showing in the stock market. While the bulk of the index charts remain in near-term uptrends, psychology data and valuation continue to be of concern for us. The charts of the major equity indices saw some weakening Tuesday, with two closing below their near-term support levels while two more registered bearish stochastic crossover signals. Also, the S&P 500 and its percentage of components above their 50-day moving averages are on a bearish divergence as discusse...
Source: thestreet.com