Weekly S&P500 ChartStorm - 14 July 2024
This week: volatility, equal-weighted index, breadth, positioning, technicals, bid ask spreads, stretched markets, the old oil, small caps, bullish rotation scenarios...
Welcome to the latest Weekly S&P500 #ChartStorm!
Learnings and conclusions from this week’s charts:
The equal weighted index rose sharply last week.
Market breadth has begun to improve.
Asset managers are all-in on stock futures.
Another Hindenburg Omen has triggered.
Valuations and earnings remain stretched vs long-term.
Overall, on the one hand we’ve got imp…
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