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Special Bulletin: May 16th, 2017


While the Nasdaq has boldly charged ahead to All-Time highs, the S&P 500 has barely “inched” out its own new highs and has basically traded sideways for over 3 weeks. The blue-chip indexes have yet to pick a decisive direction in spite of all the “media noise” of new highs. This type of action is setting up a POSSIBLE DIVERGENCE THAT NEEDS TO BE RECTIFIED QUICKLY in order to avoid creating a topping pattern.

The S&P 500 needs to push meaningfully higher on increased volume very soon or else professional selling will likely take over. Make no mistake about it, the markets trend is still up, but “gravity” & investor complacency are beginning to weigh on the major indexes.

Certain technical indicators are beginning to show deterioration which suggests an important test of a lower support level may be nearing. In addition to the divergence, a possible first-stage sell signal (an early warning) could be triggered as early as tomorrow (Wed 05/17) if a specific technical event happens. Watch for early price weakness in the markets on Wednesday and study how the bulls respond to it.

These items could cause our Current Market Outlook to be changed to a “yellow light” in the days ahead.

Stay tuned & have a Triumphant day! ® 

The information in this article is based on data obtained from recognized services and sources and is believed to be reliable. Any opinions, projections or recommendations in this report are subject to change without notice and are not intended as individual investment advice. Not to be used as legal or tax advice.
©2017 Triumphant Portfolio Management, LLC.

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