S&P500 Weekly bearish bias continues...
Looking into yet another week of the S&P500, the bearish bias is still there despite a slight push to the upside over the last weeks.
This inevitably has formed into a bearish divergence.
See the MACD panel where the histograms and the MACD signals are aligned in the bearish divergence.
The lower two panels are the Net non-commercial interest and the Top 8 traders Net positions... both of which are net short, and increasing so.
These indications suggest that the S&P500 is likely to be due for a pullback in January 2021.
Looka like it will be a surprise.
Get ready!
This inevitably has formed into a bearish divergence.
See the MACD panel where the histograms and the MACD signals are aligned in the bearish divergence.
The lower two panels are the Net non-commercial interest and the Top 8 traders Net positions... both of which are net short, and increasing so.
These indications suggest that the S&P500 is likely to be due for a pullback in January 2021.
Looka like it will be a surprise.
Get ready!
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