The situation at the China consulate, continued surges in Coronavirus cases, unrest in the streets of America, an upcoming presidential election, and a slew of other detrimental and uncertain factors are making it increasingly difficult for the current stock market rally to continue.
In fact, we may be due for a correction right about now
S&P 500/SPX (SP500)
Source: StockCharts.com
A few elements that trouble me technically include: |
Something akin to a blowoff top on Thursday. A substantially lower RSI at the recent top than during the previous high.