S&P 500 Getting Stretched – Topping Process Likely Underway

Posted by Financial Sense

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Looking at the chart above, there is now good reason to believe the rip-roaring 13% rally from mid-February has come too far too fast and may be in the process of topping out.

Periodically the S&P 500 will get extremely stretched, moving too far above or too far below its 50-day moving average indicated by the horizontal red and green lines. When this happens, we typically see an important top or bottom in the market take place.

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