Market Breadth Data******************************

Saturday, December 04, 2021

SPX Trend and Pattern

 After failing at the ATH, the SPX registered two consecutive 3-day identical bearish patterns:

A projection of this pattern identifies the key support/resistance levels for next week: 4450 & 4600.

A break below 4450 could lead to a panic sell to 4300. A break above 4600 opens the door for a retest of the ATH.

Weekly market breadth has been steadily declining and has entered oversold territory:

suggesting that a strong rebound should follow.

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