S&P 500
Most averages peaked May 8. S&P500 now has a triple top with declining highs and a pull-up to broken support off March rally start
50 day chart of S&P 500 Index, 5/29/09
Technical Composite: now turned down
The technical indicator composite (blue curve) is a back-tracked (37 four-month periods) composite of a variety of technical indicators of equity, bond, and commodity action that has been optimized to recognize turning points of the equity market. Each "snapshot" is the analysis applied to the most recent 90 days of market action. It remains a "work in progress."
Composite Technical Indicator -- 90 days
Legend:
white: Cumulative NYSE adv-decline line
blue: Composite, smoothed technical indicator
green: Simulation: long A/D line if (blue) indicator
rising, short if (blue) indicator falling.
