Take a careful look at this S&P 500 chart …


Take a careful look at this S&P 500 chart …

Today’s updated chart shows the percentage of S&P 500 stocks with a 20 day CRSI at a positive or negative level.

When you look at the chart, note that it had a sharp bounce up last week.

Two weeks ago we said to be extra careful at this stage as there is no room for error, and now things look like they are improving, but be careful.

Why the caution?  The number of Positive stocks on the S&P 500 is improving, but it needs to do a little more than that … it needs to move higher, otherwise it could make a lower top like at points 106 to 113 on the chart.   If that were to happen, then you would have a lower top and trouble ahead.,