SPX - you are not alone (long) up here
Major indexes have continued tho slow motion break out moves, but we are seeing an increased amount of rather weak candles "up here".
No confidence candles after such a run up is usually a cautionary sign. Over past days we have seen hanging man, dojis and what looks today a shooting star candle in SPX. This is not the sort of px action you want to see at these levels.
Note RSI is rather overbought up here.
Second chart shows how asset managers have been all over this move higher and have increased their long exposure big time in US equities. Chasing low volume melt ups can be tricky if you get "stuck"....
No confidence candles after such a run up is usually a cautionary sign. Over past days we have seen hanging man, dojis and what looks today a shooting star candle in SPX. This is not the sort of px action you want to see at these levels.
Note RSI is rather overbought up here.
Second chart shows how asset managers have been all over this move higher and have increased their long exposure big time in US equities. Chasing low volume melt ups can be tricky if you get "stuck"....
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