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S&P500 TOP - BROADENING FORMATION - OVERVALUED
SPX500
, 1D
Short
SPX500: S&P500 TOP - BROADENING FORMATION - OVERVALUED

The S&P500 is clearly topping out at 3015 in a broadening formation. This index is overvalued using DCF valuation (5% growth, 8.6% discount rate) by 15%. Expect a fall down to 2500. The Nasdaq 100 is also topping out and the Russell 2000 never confirmed the highs in these indices. Look at the RSI, ROC and MACD. All have topped out and are turning lower. I am...

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