Noted that the S&P500 is over extended with technical indicators suggesting decreasing momentum over the last few months, even as the index keep pushing new historical highs.
This week, another sign of the bullish stall comes in the form of a Gravestone Doji-like form. Read the link about such a candlestick pattern.
Over an above that, also noted that the Non-commercials and largest 8 traders are net short, and continue to be so for the last six weeks, at least.
Taken together, this are very clear and present warnings about a likely top being in place, albeit surprise blowouts may occur. Nonetheless, point here is that the cards are stacked on one side... choose where you stand.
This week, another sign of the bullish stall comes in the form of a Gravestone Doji-like form. Read the link about such a candlestick pattern.
Over an above that, also noted that the Non-commercials and largest 8 traders are net short, and continue to be so for the last six weeks, at least.
Taken together, this are very clear and present warnings about a likely top being in place, albeit surprise blowouts may occur. Nonetheless, point here is that the cards are stacked on one side... choose where you stand.
