The S&P500 future has completed a countdown, leading to a market timing sell signal identifying a trend exhaustion area below 2795.75. There is the same signal for the Nasdaq and in Europe, EURO STOXX 50, Euronext 100, FTSE Eurotop 100…In addition, the chart shows a MACD classic bearish divergence, suggesting the index has reached an area where price could reverse and start declining. It’s clear enough: this market is ready for a pause/pullback or reversal.
Tactically speaking, to say the least, it is too late to chase the rally.
Tactically speaking, to say the least, it is too late to chase the rally.