The SPX was knocked off the rally trend from Nov. and now has turned weak on the MACD
indicator. SPX Weekly
The market has been working off a substantial intermediate term overbought and although there
has been some downward pressure in recent weeks, there has been no decisive break yet to shift
market player attitudes away from a bullish posture. As outlined in the 3/26 SPX Weekly (scroll
down), fundamentals suggest continuation of a flat market.
- 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 !!!