Looking at the latest S&P 500 SPX (SPY ES1!) "Breadth" data, including Stocks Above 50-Day Moving Average (S5FI) & Stocks Above 200-Day Moving Average" (S5TH) — this is yet another indicator that we have been tracking since the start of the market downturn (correction/bear market) in late 21' / early 22' as it has helped to signal buy/sell signals.
Here's what you'll find on this chart: 📊
Top Section
What do you think about this S&P 500 SPX (SPY ES1!) contrarian (sell) indicator? 📈📉
Let me know your prediction in the comments below! 👇🏼
Here's what you'll find on this chart: 📊
Top Section
- Stocks Above 50-Day Moving Average (S5FI) = Blue Line: *CHART NOTE* Pay close attention to the horizontal (Blue Dotted Line), which signals/coincides with relative tops in breadth that match the SPX resistance.
- Stocks Above 200-Day Moving Average" (S5TH) = Orange Line: *CHART NOTE* Pay close attention to the horizontal (Orange Dotted Line), which signals/coincides with relative tops in breadth that match the SPX resistance.
- S&P 500 SPX (SPY ES1!) = Teal Line
- Support/Resistance (Bear Flag Pattern) = Vertical Red Lines
What do you think about this S&P 500 SPX (SPY ES1!) contrarian (sell) indicator? 📈📉
Let me know your prediction in the comments below! 👇🏼
To Wealth & Prosperity,
Kyle
Kyle