Mentorship

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S&P

25 Jun 2014 ‚óŹ 12:29 PM

Yesterdays US market behavior raises a red flag for world markets in the days ahead. Wave E might have completed on the S&P and most US indices fell after negative divergence on the RSI. Momentum indicators were already diverging from price and that trend appears broken. 1940 is the 20dma for the S&P which will be the first support and a closing below which will attract increased selling pressure upto 1911. If the wedge is correct then the lower trendline at 1901 should break and set targets much lower. The US market is at great risk and every sell signal has to be taken seriously till proven wrong. This is a sell signal.

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