SPX500 Monthly Selling Pressure and the Yield Curve
The SPX500 continues to make lower lows. As long as it stays below 2121, I remain bearish until further and stronger signs emerge on a monthly basis. This is no a daily or intraday analysis. It is clearer from the monthly chart that 6 to 8 months down the road, moving away from the SPX500 equities is a wise thing to do for now; otherwise, a weekly or daily set-ups can provide short-term longs and shorts.
What would be good confirmation 1 to 3 months down the road is a flattening of the yield curve. It hasn't happened yet according to StockCharts: stockcharts.com/freecharts/yieldcurve.php
For now, the selling pressure for the higher time frames remain. So, it is just a matter of time before more confirmation emerges to put a clearer face to these charts.
What would be good confirmation 1 to 3 months down the road is a flattening of the yield curve. It hasn't happened yet according to StockCharts: stockcharts.com/freecharts/yieldcurve.php
For now, the selling pressure for the higher time frames remain. So, it is just a matter of time before more confirmation emerges to put a clearer face to these charts.
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