Summation H&S breakdown. Threatening to breakdown from the ledge and below the zero line.....
Summation H&S breakdown. Threatening to breakdown from the second ledge...
Add to this the big-kahuna divergence of the A/D line not confirming with the new price highs on SPX and emerging markets like India and China not making new recovery highs.
With all these technical negatives, it makes you wonder who are these happy-go-lucky buyers holding the market at new highs ?
The 20-week low is still ahead of us, due end of November, as i mentioned in my last post. If the above mentioned negatives play out, we should see a severe decline starting next week. Where the decline stops, will determine the next phase of the bull or bear market, as the case maybe. If SPX 1030 cracks, then that is all she wrote for this mini-bull run....
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