SP 500, initiative institutional selling on 2/8/19
Indicators computed on the SP500 daily data, that include volume of SPY and ES March19, indicate initiative institutional selling in the SP500 stocks on 2/8/19.
Also the algorithm Arzamas-16 indicates big money flowing out of SP500 stocks. These two factors make it likely that we have reached a market top.
The coming days will be important. Sellers took the initiative on 2/8/19, we will see today and on Monday how strong the commitment of buyers are.
Longs should be cautios. In fact, taking a 1 unit short position is justified.
Also the algorithm Arzamas-16 indicates big money flowing out of SP500 stocks. These two factors make it likely that we have reached a market top.
The coming days will be important. Sellers took the initiative on 2/8/19, we will see today and on Monday how strong the commitment of buyers are.
Longs should be cautios. In fact, taking a 1 unit short position is justified.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.