The S&P 500's weekly momentum has hardly appeared bearish over the past 2-years. That was until now. Both the weekly MACD and Stochastic are indicating the change to INCREASINGLY BEARISH weekly momentum conditions shortly. Once confirmed, PA should head lower over the next several weeks. IMHO..
The MACD appears likely to form a bearish down-cross by week-end. Probable first signal of INCREASINGLY BEARISH weekly momentum conditions. The Stochastic appears likely to form a bearish lower-high by week-end. Should become overbought on a down-cross of the 80.0 line next week, confirming INCREASINGLY BEARISH momentum conditions.
