My S&P 500 stock market prediction is that we get a slight move up and then a bigger move down. The week of September 11 – 15th we get a flat to slightly higher move up, but then the market takes a stronger move down the week of September 18 – 22.
We also have the Put/Call Equity Ratio on the S&P 100 index bottoming as it prepares for the next swing upward:
SOXX confirms that the S&P 500 will have a tough time going higher over the next couple of weeks. SOXX is very close to triggering a Parabolic SAR sell signal and our swing trading indicator the PPO has falling histogram bars:
Going deeper and studying the S&P 500 volume advance decline percent chart, we have a hard break lower as the PPO rounds out and begins heading down which shows sell volume has begun to outpace buy side volume:
Do you have any thoughts or questions about the S&P 500? Leave your comments below.