SPX Long Term Top in Formation
Looking at a Log Chart of the SPX taking the long term trendline back from 1929 until now we are bumping up right against the upper end. We could probe above the trendline. You are also getting negative bearish divergence on the long term RSI. I see a stronger correction playing out over the next 6-12 months.
STAY CAUTIOUS. Now would be the time to start lightening up long positions, might not be a short trade yet but get ready if the market does start to roll over for a further longer term correction.
STAY CAUTIOUS. Now would be the time to start lightening up long positions, might not be a short trade yet but get ready if the market does start to roll over for a further longer term correction.
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