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Stock Market – What Government Shutdown?
It Seems Stock Market Loves Shutdowns
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Today we will be covering...
Today, we will examine some S&P 500 $SPX ( ▲ 0.58% ) technical indicators.
S&P 500 Technical Picture
I posted in the last couple of weeks the blowoff cycle price projections that are still several percent higher.
But here is something intriguing.
The McClellan Summation Index ($NYSI) has been pointing lower for weeks while the S&P 500 has been relentlessly pushing up.
The McClellan Oscillator ($NYMO ( 0.0% )) has also been weakening.
The $NYSI is one of the better swing-trend indicators, but it is failing. I have encountered this failure a couple of times before, but it remains a puzzling issue.
It will either right itself by reversing, or a continuing weakness may be sending a message that a significant correction is in the cards in a not-so-distant future.

The NYSE Advance-Decline Line and RSI are also negatively diverging.

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