FX:SPX500   S&P 500 index of US listed shares
216 0 4
Unless if we have a major rally in the next 45 minutes, the S&P 500             will have its 6th distribution day, 3 of which have occurred over the past 2 weeks. If we see one more distribution day within the next few sessions, we'll have a "distribution cluster" which is 4 or more distribution days within a 2 week period.

Part of what makes me feel as though this is just a normal pullback (so far) is that we're bouncing off the 10wk line and we're closing in the middle of the trading range which is a potential sign of support. We've also rallied about 10% since the end of June and some consolidation here is actually constructive.

What is always important, more so than the action on the indices in my opinion, is what is happening "under the hood". What are your positions telling you? How about the stocks on your watchlist? How are they behaving? Since this is what you're actually trading (unless if you're someone who is trading ETFs) this should be even more important in your assessment of market health.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out