Click to Enlarge
The major averages and the market internals reversed from positive to negative Thursday and Friday, which is a negative sign. The Summation Index did not confirm the new highs last week and is now below its WMA. This increases the odds of a further decline with converging support at 1020-40 on the S&P and stronger support at 1000.
Subscribe to MoneyShow’s daily investment newsletter Top Pros' Top Picks and get actionable advice from our top experts, including the hottest stocks to buy and sell, ETFs and funds for short- and long-term capital appreciation, and a wide variety of dividend-paying stocks set to deliver a steady stream of safe, reliable income.
Get an edge on the markets with our three-times-a-week trading newsletter, Trading Insights. Receive timely trade ideas covering stocks, options, futures, and more to keep you on the right side of the action. From trading basics to advanced strategies and high-probability set-ups, the insights you need from our all-star lineup of trading pros is delivered straight to your inbox.
