US Stock Market Up and Down Trends

Today 08/16/21 the S&P 500 (SPX)  and Dow Jones Industrial Average continued their up trends by making new all-time highs. Several internal momentum indicators continued their down trends.

The NYSE – New 52 – Week Highs ($NYHGH) chart courtesy of StockCharts.com illustrates one of the momentum indicators.

The simultaneous up trend with a diminishing number of new 52-week highs is unsustainable. The US stock market is at  high risk of a mini crash.   

Today traders were stopped out of 50% of a short position when the SPX moved above 4470.00. The 100% short position of non-leveraged SPX related funds began on  the SPX open  07/12/21. The total move up from the entry point was 2.2%, the loss on the 50% position was 1.1%.  Continue holding short  the remaining  50% position with a stop loss on an SPX  move above 4510.00.  

Published by Mark Rivest

Independent investment advisor, trader, and writer. Articles have appeared on Technical Analysis of Stocks and Commodities , Traders.com Advantage, Futuresmag.com, and Finance Magnates.

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