Following Wednesday's session, our summation 21 index continues to deteriorate, telling us the momentum continues to fade.
Our breath index continues to deteriorate but remains above the zero line, telling us that (for the time being) the uptrend is still in place.
It is important to notice that our Sigma Trend Index is already in negative territory (-1). We need two consecutive closes below the zero line in order to get a trend reversal signal from this indicator.
Our turnover index evolves in opposite direction relative to other indexes because it gave a fresh buy signal. We have to monitor this indicator in coming days in order to see if this new buy signal is canceled.
Our indicators are close to a trend reversal signal, but we are not there yet.
We keep our short position on the S&P500.
Have a nice day,