While I wait to see if the Price Pulse Confirmation Line
(see last few posts) gets broken on the daily chart it is always instructive to
take a technical look at the newest higher level time frames. Attached is the
new monthly bar chart of the cash SP500.
Of note is the pending 9-13-9 “sell” signal generated by
DeMark analysis. I use this signal in a conservative fashion – to me it is not
activated until we get a price flip. For that to occur in June we would need a
June closing price below 1514.68. On the other hand, this sell signal would be
negated on a confirmed break of the 1659.11 level (shown by the horizontal cyan
colored line). Such a confirmed break will not happen in June.
Another reason to be very cautious regarding equities?
