Nothing much as changed in the S&P 500 over the last one week. Infact it is as confused as the mixed signals emanating from various data sources. If one thing comes out positive then the other is just completely opposite leaving all wondering what’s exactly the Status Quo???
The chart above still has to make a lower low to confirm any bearishness. The RSI though it shows an H&S formation (yet to be confirmed) is still above 50 and shows no signs of weakness. The MACD histogram is ready to tick up! In short S&P 500 will only give directional breakout if it either breaks 950 or 870(tgts 1000 or 800) and till this happens, keep asking Quo Vadis?
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