S&P500 futures looking on edge.
S&P500 futures show weakness. Buying is not what it used to be and the technical wedge that was giving it support has broken. Due to the nature of this uptrend there is very little support to be found in the local area. If we break any meaningful moving averages a significant pullback is not improbable.
Due to the transportation sector's nature of closely reflecting the average American's habits, it can often foreshadow what the rest of the market will soon feel. The transportation sector is showing a possible lower high on the horizon for itself and the greater space. It could take upwards of 2-4 months for the rest of the market to reflect any momentum shifts the transportation sector is hinting at.
Due to the transportation sector's nature of closely reflecting the average American's habits, it can often foreshadow what the rest of the market will soon feel. The transportation sector is showing a possible lower high on the horizon for itself and the greater space. It could take upwards of 2-4 months for the rest of the market to reflect any momentum shifts the transportation sector is hinting at.
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