Episode 144: The S&P500 has behaved well the past two weeks; it is currently trading above 2000 which was a key point of resistance. From a technical perspective, the market may be forming a double top…meaning that the next move is down. The S&P500 high point since the correction (Aug 24&25) was an intraday high of 2020.86 on Sep 17. During the past three sessions, the S&P500 has UNSUCCESSFULLY tried to top that high water mark. Volume has also been weak the past three sessions. I’m concerned about a pullback.
In this episode we’ll also discuss poor sector leadership and the threat of a false Oil/Commodity recovery.
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