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S&P 500 Negative Divergence Warns of Selling Pressure

On the S&P 500 weekly chart, the Twiggs Money Flow is warning of continued selling pressure.

The negative diverge suggests an increase in selling pressure.

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I wouldn’t get too alarmed about the S&P 500 weekly chart and the negative divergence on the Twiggs Money Flow because transports are still holding up nicely.

Transports bellwether stock FedEx looks very strong after doing a breakout above the $200 resistance level.

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Market is overbought.