DailyChartist

SPX overextends it's buying potential. Bulls taking a break

Short
SP:SPX   S&P 500 Index
Technicaly:
* CM top/bottom indicator signaling that a top is forming;
* A/D ratio decending as accumulation is nearing its peak;
* Money flows turning lower as money are going out of stocks;

Fundamentally:
* Labour market starts to hick up again as new Covid - 19 cases rise in the US;
* Labour market cracks will weigh in on other economic indicators;
* FED lower it's stimulus program in a steady pace;

Near - term correction is potential towards the lower trend line.
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