Technical Analysis for .SPX
$S&P 500(.SPX)$ thoughts: Breath closed negative today— and small caps continue to distance themselves from breakout. Stand-alone this is insufficient, but it is a start. From here, this is not looking like a melt-up scenario.
At this rate another risk-off scenario will transpire should breadth keep negative and the index close below 4245. In that scenario I will have no heartache returning with a bearish outlook and positioning.
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- GregoryRichardson·05-30I may consider a bearish outlook in that case.LikeReport
- TabLucy·05-30👍LikeReport