One of my readers from my subscription service sent me this picture last night, and it has been on my mind all day.
Simply put, he overlapped the SPY with the T2107 chart, and what we get is mind boggling.
Since June as the market is climbing higher and higher, fewer and fewer stocks, on a percentage basis, are trading above the 200-day moving average.
That is a HUGE problem. because if that continues to be the case, the market will not be able to continue this unbelievable rally.
Here’s the chart: