Tell a perma-bull the S&P 500 has been up for 17 of the past 18 Mondays, and they'll probably feel pretty good about the health of the market and economy.
Not so fast.
A deeper dive into the data reveals the picture isn't so rosy:
- Despite a +0.18% gain for the S&P 500 yesterday, 68% of stocks were down for the day
- Seven of 11 sectors were down, led by Real Estate (XLRE) at -1.4%
- Meanwhile, the Russell 2000 dropped another -1.3%, now down -13.1% since July
A: By following a repeatable process.
“Every time some flaming POS goes to the top of the range, I short it,” McCullough explains in this clip from The Macro Show. “That’s why I’m so successful in Real-Time Alerts lately. A raging POS at top end of range with bearish trend on decelerating volume. That’s what I’m looking for.”
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