S&P 500 selling pressure

The S&P 500 is retracing to test its new support level at 2950. Bearish divergence on Twiggs Money Flow warns of (secondary) selling pressure. Breach of support would warn of a correction to test primary support at 2750.

S&P 500

Sector indexes are approaching a watershed moment, with Autos rallying to test their descending trendline.

S&P 500 Automobiles

Retail is also headed for a test of its rising trendline after making a new high.

S&P 500 Retail

Even Semiconductors have recovered to test their 2018 high at 1450.

S&P 500 Semiconductors

I still believe it’s a good time to be cautious.

“Be fearful when others are greedy and greedy only when others are fearful.”

~ Warren Buffett