"Get Out", cries the wolf..or is it another animal this time?
Here we go again!!!...My Sentiment indicator (bar at the bottom of the charts) has gone red... again...
An interesting scenario has developed..Since March the S&P500 Index has continued its bull market cycle record breaking rallies with a decreasing percentage of stocks in their own bull cycle..this downtrending divergence trend is worrying. If this trend continues there will a point in time when the remaining stocks (still in their bull cycles) will be unable to keep the S&P500 index in its uptrend..
More than half the stocks on the S&P500 below their 200MA
Rising tide lifts all boats .......hmmmm
Interesting
What about the falling tide? 100DMA is in play, will it provide support? SP500 200DMA isn't that far below. So many listed companies beneath their 200DMA, is not a good sign. VIX got some upside as well, the house of cards is looking vulnerable. NZX is bit player on the whipping hose.
...An interesting scenario has developed..Since March the S&P500 Index has continued its bull market cycle record breaking rallies with a decreasing percentage of stocks in their own bull cycle..
Good news...eh ..another record high
The flick side is there are less stocks in their bull cycles than the previous index high (early August).. 65% then.....62.5% now
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