Take a Careful Look at this SP 500 Chart

By: Marty Chenard | Mon, Dec 22, 2014
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Today's updated chart shows the percentage of S&P 500 stocks with a 20 day CRSI at a positive or negative level.

When you look at the chart, note that it had a sharp bounce up last week.

Two weeks ago we said to be extra careful at this stage as there is no room for error, and now things look like they are improving, but be careful.

Why the caution? The number of Positive stocks on the S&P 500 is improving, but it needs to do a little more than that ... it needs to move higher, otherwise it could make a lower top like at points 106 to 113 on the chart. If that were to happen, then you would have a lower top and trouble ahead.

Percentage of S&P 500 Stocks with a 20 day RSI that is Positive or Negative

 


 

Marty Chenard

Author: Marty Chenard

Marty Chenard
StockTiming.com
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Marty Chenard is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools and stock market models. As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker.

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