S&P 500 recovered from late Friday selloff that I told clients to disregard, and pushed on to fresh highs – as said in weekly premium plan. Today, we‘re getting crucial retail sales to reveal the state of declining UoM consumer sentiment being translated to lower willingness to spend. Haven‘t last week‘s CPI and PPI been hinting at that? We all saw Empire State manufacturing further weakening too.
Sure that brings plenty of intraday opportunities yesterday or today premarket. But let‘s have a look at this S&P 500 market breadth chart for clues that I have developed further in the below analysis.
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Let‘s mve right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article contains 3 more of them, with commentaries.
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