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dpuleo19

Breath gave the signal for correction

S&P 500 Stocks Above 50-Day Average (INDEX:S5FI)  
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INDEX:S5FI   S&P 500 Stocks Above 50-Day Average
Trend Analysis Technical Indicators Beyond Technical Analysis breath S&P 500 (SPX500) bottom
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trendanalysis indicator beyondta breath spx500 bottom
The percentage of stocks of the SPX got above 80% last week. For the last 4 years, this has been a very good signal for excess and a correction is due.

Use this to find strength. The stocks that manage to stay above its 50-day MA may be the ones that lead the next move. At the moment oil, gas and some solar stocks dominate my watchlist. And I am a Bottom-Up trader.

Also, according to this breath indicator, the bottom already happened. Just like in 2020, S5FI got below 2%. As it shows, it signaled the bottom.

Commentaire:
Retesting levels, double bottom in SPX and S5FI?

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