2024-02-13 06:59:00 ET
Summary
- While the bulls remain entirely in control of the market narrative, divergences and other technical warnings suggest becoming more cautious may be prudent.
- As the S&P 500 index approaches another psychological milestone of 5000, we again see numerous warning signs emerging that suggest the risk of a correction is elevated.
- The negative divergence between stocks making new highs and the underlying breadth is a good reason to be more cautious with allocations currently.
While the bulls remain entirely in control of the market narrative, divergences and other technical warnings suggest becoming more cautious may be prudent....
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Divergences And Other Technical Warnings