Sharp Drop Alert - Market Analysis for Jul 7th, 2019

The intermediate and long term S&P trend is solidly up.  There is nothing special about this week's mood pattern to imply an immediate drop, nor is anything pointing to an imminent trend change.  Yet, the overbought + flatline signature of a potential sharp drop is appearing in the weekly chart (see below).  For this reason, I have to put out a Sharp Drop Alert for the next couple of weeks (through about July 22).

Dr. Cari Bourette is an analyst at ElliottWaveTrader.net, where she provides her proprietary market mood analysis in our flagship service, "Avi's Market Alerts."