160117 – 5 Signals That Will Prove the $SPY Could Reverse
2015 was a range bound market that lacked breadth. A few stocks like Facebook, Amazon, Netflix, Google, and Microsoft held up a weak internal stock market. 2016 went into a quick correction of over 10% from all-time highs.
The energy sector and oil continues to go lower and lower. Small caps have fallen below 52 week lows in $IWM. High yield bonds have fallen to July 2009 lows. Markets have stopped bouncing at oversold levels and haven’t found price support. This year has been a downtrend without support and without a bounce, just lower lows and lower highs. Stocks are under distribution. read more