S&P500 has been bearish divergent for a month
In the last one month, the ES1! (S&P500 futures) have been obviously divergent and continues to be so.
We have seen this before in recent times, particularly before COVID-19 struck the markets.
Although divergent, the market does what the market wants, and this can hold out for a very long time. It just leaves us with a warning that at some point, a trigger could, and would, set the ball rolling down into an avalanche.
With the seasonally thin trading volumes this week or so, perhaps expect the first week of 2021 to see some proper resolution of this bearish divergence.
We have seen this before in recent times, particularly before COVID-19 struck the markets.
Although divergent, the market does what the market wants, and this can hold out for a very long time. It just leaves us with a warning that at some point, a trigger could, and would, set the ball rolling down into an avalanche.
With the seasonally thin trading volumes this week or so, perhaps expect the first week of 2021 to see some proper resolution of this bearish divergence.
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