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The Technicals Are Bearish | Katie Stockton

Forward Guidance

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The S&P 500 Index Fails to Break Above the 200-Day Moving Average

The S&P 500 index came right up into that 200-day moving average after the summertime relief rally and like pivoted on a dime. It's so rare to see something that precise If you think about a resistance level or a support level with all of the varied market participants out there They're more likely cushions not precise points, but just in this example it happened to be very precise. We want to see positive divergences meaning higher lows and things like the MACDs Maybe on the weekly chart where price is still lower So we want to see that kind of improvement Almost behind the scenes in our indicators as downtrend is going through a basing phase.

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