While SPX is making new highs I am seeing divergences everywhere.
1. Price Volume Divergence:
2. Momentum divergence. Prices up but RSI down.
1. Price Volume Divergence:
3. SPX making new high but VIX not making lower low.
4. SPX making new high, but NYSE new highs are falling.
5. SPX making new high, DJ-Transport is diverging.
6. SPX making new high, copper moving down.
I can go on and on but somehow I think a correction is needed to rebalance the too stretched rubber band.
I know liquidity is strong and all Central Bankers are pumping in money, but even then!
Lets see tomorrow.
