Weekly S&P500 ChartStorm: Bulls Stage A Counter-Attack But Sentiment Teetering
Callum Thomas | Mar 20, 2022 02:07AM ET
This week: bulls stage a counter-attack, technical things, sentiment snippets, buybacks, margin debt, investor positioning, Chinese equity capitulation
1. Bulls Stage Counter-Attack: Big buying on Friday as the S&P 500 reclaimed the 4400 level and the 50dma. This follows a bullish RSI divergence (and deeply pessimistic sentiment—see the next few charts), and a "Death Cross" (when the 50dma crosses below the 200dma): which is described as a slow-moving bearish signal designed to detect market regime shifts into bear markets/down trends, but has a patchy record with many false positives…