We are at a critical juncture. We have a challenging environment that demands patience, effort and skill.
SPX price is not showing a straightforward path; instead it is unfolding an enigmatical pattern.
I am aware of the issue that inter-market divergences are suggesting that the equity market is involved in a topping process. Bulls now don?t have the support form the NDX-NAS nor from the Russell 2000. In addition Financials (KBE-XLF) are lagging badly. We don?t have an healthy market if only the DOW achieves new highs.
We also have unfavorable seasonal considerations since the equity market in the past has established intermediate tops in the months of April-May.
