S&P Solidly Bearish

Any hopes for a recovery this week were quashed by today's open and marked declines henceforth. There really doesn't seem to be any indication of a turnaround, unless some good data comes out this week, and there is quite a bit to anticipate. As the attached article notes, analysts are cutting their expectations for the S&P             , and it would be good advice to any investor heed this warning and do the same.

The head and shoulders pattern drawn here indicates a bearish trend , and today's open confirms this. Its a bit oversold at present (although the RSI does not confirm this, yet), but any rally should be a good point at which to enter a short trade, or exit a failing long position, thus easing the sting a bit.

As for the technicals, the MACD histogram is still in positive territory but its hanging by a thread and looking to cross soon. The OBV indicates a lot of selling pressure, and ADX indicator is distinctly bearish , and the difference between the up and down components are widening further, despite a recent apparently bullish Aroon crossover.
FYI: Off course is the ADX bearish. That thing has a lag of like 10 days behind the actual price action ... the Aroon is similar super slow. The least lag of the indicators you mentioned are the RSI and OBV.
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