Seven technical indicators are sending a clear message that equities are struggling
by Michael Sincere
The U.S. stock market has taken a turn for the worse during the past three weeks. While hopes were high that the market would break out of its sideways trend, it hasn’t.
S&P 500 is below its 50- and 100-day moving averages (MA) = Bearish
Moving average convergence/divergence (MACD) of (S&P 500; 19,39,9) is below the zero line = Bearish
MACD (S&P 500; 19,39,9) is below its signal line = Bearish
S&P 500 support is 2,130 and 2,072 (200-day moving average)