Potential 9th distribution day on the S&P 500

FX:SPX500   S&P 500 index of US listed shares
82 2 3
Volume is already tracking higher on the S&P 500             and if the price action remains where it is now around 2150, we'll definitely be looking at a 9th distribution day. To top it off, we will also have a distribution cluster which is 4 or more distribution days over a rolling 10 day period.

The indicator below the chart displays the distribution day count over time. As the count has climbed higher of late, note how the price action has also gotten more wide and loose. If you're long, this isn't what you want to see.

All that said, our individual positions guide us into or out of the market. There are still plenty of names setting up, breaking out, and running. Of late we have seen TWLO             , AMBA             , and PI just to name a few that have had strong breakouts and gone on to make some quick gains.
4 months ago
Great analysis!
MichaelGLamothe PRO franciskim
4 months ago
thanks! :-)
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