Why do I say that?
Well its pretty simple really!
The S&P 500 Is in Trouble here we feel. A few days ago, we warned that the rally we saw was just the FED trying to spin some positive bullshit all around, like a little arrogant fairy god mother, waving her magical wand trying to brainwash people. Well, yes it did work, but the proof is really in the pudding. Jokes and news aside you can see the S&P chart below has been in a sold uptrend since January 2013, we broke this uptrend a few days ago, and now this rising support line has now become resistance. WOW!
These lower highs on the market are not a good thing. This is clear evidence to us that the SMART MONEY is still selling, and we are most likely to see lower prices in the short term.
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| spx daily chart |
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