the daily chartist

SPX overextends it's buying potential. Bulls taking a break

published 1 year ago
SPX

Technically:

* CM top/bottom indicator signaling that a top is forming;

* A/D ratio decending as accumulation is nearing its peak;

* Money flows turning lower as money are going out of stocks;

Fundamentally:

* Labour market starts to hick up again as new Covid - 19 cases rise in the US;

* Labour market cracks will weigh in on other economic indicators;

* FED lower it's stimulus program in a steady pace;

Near - term correction is potential towards the lower trend line .