The SPXA150R is a Short-Term Market signal. As price moves higher above 80 the bulls are rallying strongly but a skeptical eye has to be taken towards equities. When price moves above 85, this is a Strongly Bearish signal for markets. When price moves above 90, this is an Uber Bearish signal, a gift to short-sellers since it is screaming that a market top has now occurred. Those shorting at the May top when this was highlighted were happy campers as the May-June swoon followed. Now price recovers back above 85 on 7/11/13 over 17 trading days ago. Interestingly, the SPX has made new highs compared to May but the number of stocks above their 150-day MA's are falling, the opposite of what should be expected for a continuing rally.
The move through 85-90 illustrates the bull-bear ongoing fight for market control. Bulls win above 90 but all that does is provide a signal to go short with conviction. Bears win under 85. SPXA150R cannot make a decision as yet, perhaps it will in the week ahead. Markets are topping currently. Projection is down ahead, however, even if markets continue to stretch the upside, a move over 90 on this chart will be another gift for short-sellers. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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