S&P500 running out of steam...
It appears that the S&P500 is reaching the second art resistance point and may be running out of steam.
Watch the index/futures over the next few days, targeting true colors early next week.
So far, everyone appears exuberant, particularly on the theme of “re-opening”.Technically, momentum is waning fast, as well as an ever increasing divergence with the MACD (and other indicators.
Critical decision level marked out by the cyan rectangle and red circle is the expected turning point. Watch out for MACD confirmation as it happens...
Watch the index/futures over the next few days, targeting true colors early next week.
So far, everyone appears exuberant, particularly on the theme of “re-opening”.Technically, momentum is waning fast, as well as an ever increasing divergence with the MACD (and other indicators.
Critical decision level marked out by the cyan rectangle and red circle is the expected turning point. Watch out for MACD confirmation as it happens...
