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Waiting For Confirmation After Last Week's Sell Signal

We got a sell signal (from our Summation 21 index) on the SP500 last Thursday. This signal remains valid after Friday's close (blue line remains below the red one).

Summation 21

This signal was confirmed on Friday by our turnover index giving us a fresh sell signal on the close.

Turnover Convergence Divergence

Nevertheless, our SigmaTrading Market breath indicator remains above "0"(red line), telling us the medium term trend remains to the upside: we need 2 consecutivecloses below zero in order to validate a trend reversal.

Market Breadth

Have a nice day,

 

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