S&P Creating Parallels To 2000 & 2007, Says Joe Friday!

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Trouble started for the S&P 500 in 2000 when momentum diverged for months, it broke below multi-month trading range support, 200-day moving average, and multi-year rising support at (1).

Trouble started for the S&P 500 in 2007 when momentum diverged for months, it broke below multi-month trading range support, 200-day moving average, and multi-year rising support at (1).

Joe Friday Just The Facts Ma’am– With momentum diverging for the past 9-months, if it breaks below the 2018 trading range, 7-year rising support and its 200-MA at (2), odds favor that selling pressure will increase.