Technical Analysis of the S&P500 - Nothing to Worry About

There is a lot of talk about a major reversal, but this is just Mr. Market's fear gene kicking in. Technically we are in a good place, short-term trend (Days to Weeks) is lateral. Medium-term trend (weeks to months) is up and so is the long-term Trend (months to years). There is a slightly negative RSI divergence which could indicate a little retracement of stocks over the next week. The VIX (CBOE Volatility Index) is hovering at 12 so nothing to be concerned about.

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Barry D. Moore CFTe Financial Technician
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