Yet even the strongest index is showing significant monthly divergences.
The monthly has a triple divergence vs. its November 2014 peak.
The monthly line and histogram also have significant divergences.
Seasonally September through early November is for stocks.
The SPX and DJIA have been in a narrow trading range since July.
During this sideways activity the number of 52 week lows on the NYSE have been rising.
The US stock market and perhaps most of the global stock market could be just a few days away from a sharp decline.
Watch for a break below SPX 2114, this could trigger a rapid decline to the low made in February.
1. Bullish cross of the blue MACD with the orange signal line
2. MACD histogram turned in October above zero, which is bullish
3. Slope of the MACD is going up, which is bullish
4. Slope of the MACD histogram is going up, which is bullish
5. RSI is rising and above the zeroline, which is bullish