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S&P; 20-Month Bearish Divergence Could Impact Stocks, Says Joe Friday

Courtesy of Chris Kimble.

Does history ever repeat itself exactly? Not so much. Do stock market patterns sometimes and momentum sometimes look the same? Yes, says Joe Friday.

This chart looks at the S&P 500 over the past 20-years, on a weekly basis, with momentum in the top section.

In 2000 & 2007, weekly momentum started experiencing lower highs, while the market was creating higher highs at each (1). Momentum was experiencing a bearish/negative divergence with the S&P 500 both times. Once support broke 2000 & 2007, selling pressure took over.

Over the past 20-months, momentum has created lower highs at (2), while the S&P has created higher highs.

Joe Friday Just The Facts Ma’am; The S&P could experience selling pressure if support happens to break at (3).

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