Major indexes are poised for new highs: But… Sell Bias remans. Dominant selling threatens this bullish scenario with three, clear distribution days weighing in on the tight range that’s formed on the S&P 500 over the past few weeks. A quick look at key sectors: Financials haven’t broken their downtrend as seen with the XLF experiencing […]
Price action rules. It’s been a Bull’s market for several weeks. We’re just under all time highs on the S&P 500, testing the upper technical range put in place at the end of 2015. SELL BIAS remains. It’s not easy to be a buyer without any clear fundamental drivers for the momentum. Lack of volume […]
An elevated Oil Volatility Index isn’t good enough reason alone to short crude. However, it’s tough to be a true bull as this measure of fear in that market warns.
All bets off for the Bull rebalancing until we see a turn around in the high yield corporate bond ETF (HYG.) Weekly chart shows price action well below the 40-period exponential MA. No Bueno.