Thursday , 15 November 2018

S&P 500 Chart – Teetering On The Precipice?

In the chart below, we compare today’s setup to 2000 and 2007 and the market crashes that followed. Will this historic divergence pattern lead to selling yet again?

This version of the original article, by Chris Kimble, has been edited* here by munKNEE.com for length (…) and clarity ([ ]) to provide a fast & easy read.

Similar to today, in 2000 and 2007 the S&P 500 made a nominal new high while putting in a lower high in momentum (a market divergence) and, once the S&P broke key support marked by its up-trend line and 200 day moving average, the selling pressure increased.

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*The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.

 

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