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Bearish Divergences Similar To 2000 And 2007 In Play Again!

Published 08/25/2019, 01:54 AM
Updated 07/09/2023, 06:31 AM
Spx Divergenes Chart

Does history at important junctures ever repeat itself exactly? Nope

Do look-alike patterns take place at important price points? Yup

This chart looks at the S&P 500 over the past 20-years.

In 2000 and 2007 bearish momentum divergences took place months ahead of the actual peak in stocks.

Currently, momentum has created a bearish divergence to the S&P 500 for the past 20-months, as the seems to have stopped on a dime at its 261% Fibonacci extension level of the 2007 highs/2009 lows.

Joe Friday Just The Fact Ma’am; A negative sign for the S&P 500 with the divergence in play, would take place if support breaks at (1).

Latest comments

sir Kimble. how about XAU. can you share it?
there is difference in divergences. this time its different. . Have "A" look again
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