Is the Market About to Post A Major Top?
Phoenix Capital Research | Jun 26, 2017 09:27AM ET
The market has been sending “topping” signals for weeks now.
They include:
- Fewer and fewer companies participating in the rally.
- High yield credit, which leads stocks, rolling over.
- Weakening momentum.
- Dwindling volume.
- Market leaders (the big 5 Tech) beginning to correct.
Now the big move is coming. The S&P 500 is completing a massive bearish rising wedge formation.
Technically, this pattern could break either up or down, but with the Federal Reserve now aggressively hiking interest rates AND draining liquidity from the system to the tune of $10 billion per month, we could very well see some fireworks to the downside.
And smart investors will use it to make literal fortunes from it.
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