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The Technicals Are Bearish | Katie Stockton
Forward Guidance
The Bearish Indicator on the S&P 500
I would say i'm I don't know what your gradations more but um Yeah, pretty pretty bearish over that sort of near term time frame With the thought that we'll see maybe some firmness here for the balance of the month give way to a big downdraft in january. The stochastic oscillator on the weekly charts having rolled over from overbought territory and that's a pretty difficult setup When you see an overbought reading in a bear market Well, that tends to be pretty high probability as a selling opportunity and vice versa. We have the reverse of that right now and that's what gives me some conviction in the fact that we will see another down
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