Weekly S&P500 ChartStorm - 21 April 2024
This week: drawdown in perspective, technical check, risk flags, overconfidence, insiders out, buyback yield, equal-weighted, M&A achievement, tax rates...
Welcome to the latest Weekly S&P500 #ChartStorm!
Learnings and conclusions from this week’s charts:
So far the market correction has seen a -5.5% drawdown.
Technicals remain tenuous (bearish divergence, break of the 50dma, breach of short-term support).
The correction comes from a starting point of very bullish sentiment.
Historically equal-weighted has beat…
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