Yesterday, the S&P 500 (SPX) closed below its 100 day moving average (DMA) for the second day in a row for the first time since last October. And of course, the SPX had a banner day today following the short sell-off. What does all this mean...I can't be exactly sure. But if the stock market declines below yesterday's low before it hits new highs, then I think it will be time to start becoming more bearish.
Here is a run down of the most bearish evidence we are seeing in today's stock market.
First, let's look at the NYSE HI's vs LO's...Read more