Technical Signals Seem Top-Heavy

Calling tops is a generally a fool's game and usually an exercise in egoism. There is a difference, however, between shouting "Hindenburg Omen" in a crowded theater and reporting unusual breadth patterns or between declaring the end of the world as we know it and making a measured analysis of a market at a potential inflection point.

In a piece last weekend, I looked at the S&P 500 on multiple time frames, noting a potential cyclical top on the monthly chart, and price and money flow momentum declines on the weekly chart. The daily chart was the trigger time frame, and a series of support areas were outlined on that chart....290 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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