Monday, August 25, 2014
S&P 500 Breaks 2,000: One Signal That Suggests It Is A Top
The S&P 500 broke 2,000 this morning. Since then, the markets have rolled over and are now back below that key level. Could this be a top? One signal that suggests we are near or at a top is a topping tail that is forming on the daily chart. Topping tails are extremely bearish signals of a top in place. Essentially it shows that weak money bought the market early and then institutional money sold into it, pushing it back down. Please note the chart below.
