Monthly SPX chart showing exhaustion signsEarlier sell signals on daily and weekly time frames has not triggered the expected sell signals.
This should not surprise much as we have been aware of the monthly sell setup that now is coming to completion.
In my earlier analysis I expected a short term sell off following the weekly sell signal but always emphasized that the monthly set up had to complete before we see a serious correction...
According to T. Demark based technical analysis, the SPX is now on a 13 monthly bar of a TD-sell countdown, we should still witness some euphoria into a Christmas rally in a final wave up.
Nevertheless what is manifesting in the monthly chart should not be ignored, we are few days / weeks before a sizable correction starts.
Trade wel ;o
sp500daytrader
