The Top Signal Now Appears in the S&P 500
The Top Signal Now Appears in the $S&P 500(.SPX)$
The reversal signal first appeared two weeks ago in the semiconductor sector $VanEck Semiconductor ETF(SMH)$ with a "shooting star" candle, which has historically led to declines when the sector is overbought.
The $NASDAQ 100(NDX)$ followed with its own reversal candle last week, and both have declined since. Now, a reversal candle has appeared in the SPX. Historically, the final trigger for an accelerated selloff has been a loss of the 5MA.
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