• 1,173 days Will The ECB Continue To Hike Rates?
  • 1,173 days Forbes: Aramco Remains Largest Company In The Middle East
  • 1,175 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,575 days Could Crypto Overtake Traditional Investment?
  • 1,580 days Americans Still Quitting Jobs At Record Pace
  • 1,582 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,585 days Is The Dollar Too Strong?
  • 1,585 days Big Tech Disappoints Investors on Earnings Calls
  • 1,586 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,588 days China Is Quietly Trying To Distance Itself From Russia
  • 1,588 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,592 days Crypto Investors Won Big In 2021
  • 1,592 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,593 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,595 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,596 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,599 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,600 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,600 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,602 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

Take a Careful Look at this SP 500 Chart

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

 

Back to homepage

Leave a comment

Leave a comment