- As I mentioned the market had a nice run and as you can see on the chart below it advanced over 162 % relative to the previous pullback. It's hard to imagine that it will go much higher.
- Technical indicators are showing that all sectors are getting overbought.
- Technical indicators are showing divergences.
- Breadths indicators are showing divergences.
- Cycle analysis shows that the current cycle might end soon.
- Prices moved away quite a bit from the 200-day SMA on the daily chart for SPY (over 10 %).