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).