Below are the US index giant charts.
S&P 500 is approaching ATH levels. Key is watching a possible close above the resistance which is the 2870 level. The index continues trading inside the channel that started back in March/April.
Over past 24 hours several of the large US indices have started flashing red sell signals according to DeMark enthusiasts.
S&P 500 recorded the first TD Sequential 13 Countdown sell signal since the buy signal dated on March 26th. Note the signal showed a sell signal 4 days before the January top.
NASDAQ bounced on the 50 day average a few days ago and is getting increasingly trapped between the uptrend and the resistance line a little higher. Make or break here?
Source: charts by Bloomberg
