The SPX closed right smack on the closing price uptrend line of the rally underway since Jun 1.
SPX Chart Note as well that the short term MACD is threatening to roll over. As it is, the trend
up has not been inspiring, and a downside break would badly crimp the credibility of the recent
advance. So, the bulls need to step in now to keep this baby rolling.
- Peter Richardson
- Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!