from Zero Hedge:
While the S&P500 rebounded sharply on Friday, BofAML’s Macneil Curry warns evidence continues to say that this is a very late stage advance from which a greater correction is forthcoming. The recent deterioration in breadth (52wk highs failing to keep track with price), the negative seasonal period and divergences between the broader indexes say that risk/reward is skewing to the downside. Bottom Line: “The S&P 500 is vulnerable.”
Via BofAML’s Macneil Curry,
The S&P500 is vulnerable
While the trend in the S&P500 is still higher, with potential for a near term push towards 2000; this is a very late stage advance from which we look for a medium term correction. 1944 (the June-26 low) is key. Below here confirms a top and turn…
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