SPX was trading at the top of bollinger band, but went down a bit which is healthy. This does NOT mean it's bearish.
MacD looks to cross onto the buy-side and RSI has room to go to oversold.
People cash out at highs and move their money to bonds to preserve profits. Since cashing out 401ks is forbidden/expensive, they just move it to bonds.
However, equities have topped, and it can only go down, but not too sure if it's a bear market yet.
Maybe we''re in the Denial phase of an asset bubble, who knows.
VERDICT:
We'll have to look at the jobs report and the CCI for the next few months to get an accurate prediction, but I don't see any bearish action yet.
Not financial advice, DYOR.
MacD looks to cross onto the buy-side and RSI has room to go to oversold.
People cash out at highs and move their money to bonds to preserve profits. Since cashing out 401ks is forbidden/expensive, they just move it to bonds.
However, equities have topped, and it can only go down, but not too sure if it's a bear market yet.
Maybe we''re in the Denial phase of an asset bubble, who knows.
VERDICT:
We'll have to look at the jobs report and the CCI for the next few months to get an accurate prediction, but I don't see any bearish action yet.
Not financial advice, DYOR.