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WhiskeyTangoFoxtrot3

Angle of the January-April Bull Rally Is One of Many Red Flags

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Indice S&P 500 (SP:SPX)  
WhiskeyTangoFoxtrot3  
SP:SPX   Indice S&P 500
Trend Analysis Harmonic Patterns Beyond Technical Analysis S&P 500 (SPX500) spx500short spx500long spx500forecast usstocks sandp500 sandp500short sandp500long usstock
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trendanalysis harmonicpatterns beyondta spx500 spx500short spx500long spx500forecast usstocks sandp500 sandp500short sandp500long usstock
SPX has trended at a 57 degree angle since the 2008 financial crisis. While trend line theory suggests any stock above a 45 degree angle is troublesome, perhaps the SPX is an exception. However, the current trend we are witnessing is at a 67 degree angle, suggesting a significant pullback is warranted. Take this with the global fundamentals (slowing Europe, slowing China) and oscillators which indicate overbought, SPX is probably in for a bit of a healthy pullback.
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