Good morning,
Not a lot has changed during the two weeks since our last Monday Morning Playbook, but a good bit has changed since the S&P 500 briefly topped two months ago.
Even though the index has bounced back from the April lows and made a new high, it has done so with numerous bearish divergences, ranging from momentum, to breadth, to offense vs. defense ratios.
It’s enough to make me more uncomfortable than I was when the S&P 500 was trading at 5000 but uncomfortable doesn’t mean bearish.
There are 3 things this market still has going for it:
Watch with a 7-day free trial
Subscribe to Brown Technical Insights to watch this video and get 7 days of free access to the full post archives.
