• 371 days Will The ECB Continue To Hike Rates?
  • 371 days Forbes: Aramco Remains Largest Company In The Middle East
  • 373 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 773 days Could Crypto Overtake Traditional Investment?
  • 777 days Americans Still Quitting Jobs At Record Pace
  • 779 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 782 days Is The Dollar Too Strong?
  • 783 days Big Tech Disappoints Investors on Earnings Calls
  • 784 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 785 days China Is Quietly Trying To Distance Itself From Russia
  • 786 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 790 days Crypto Investors Won Big In 2021
  • 790 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 791 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 793 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 793 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 797 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 797 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 797 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 800 days Are NFTs About To Take Over Gaming?
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

The Case for the SP 500 Being at a Major Turning Point

Last Friday I shared some thoughts regarding the potential turn in the US Treasury bond market. As many markets are correlated, it would be worth looking for reversal signs in other markets. And in fact, I believe such signs are in place in the S&P 500.

See the chart below. We see a bullish engulfing pattern and a volume spike, which signals to me potential exhaustion of the upwards trend.

BATS:SPY Ratio Chart
Larger Image

Also worth noting is the divergence between emerging market stocks and the S&P 500; emerging market equities have already turned, as the chart below illustrates. (via ZeroHedge)

$SPX S&P 500 Large Cap Index INDX

Lastly, I think it is worth mentioning that we are still in the vicinity of the potential long-term megaphone pattern.

SPX 500, Monthly long-term
Larger Image

What do you think?


Back to homepage

Leave a comment

Leave a comment