Chart Talk {03.19.18}

Here's an updated chart of the S&P 500, again fromTradingview.com.  The markets have basically chopped around the past month or so, although they are higher than their lows back in early February.   One thing to watch and perhaps also a clue to future short term market direction is to pay attention to how the index reacts to either set of trendiness we're showing on this chart.  The one on top is a downward sloping line from the January highs and the other is an upward sloping line from the February lows.  These lines are going to converge in the not to distant future.  Traders pay attention to these things as they can be predictive of whether markets are going to advance or decline.  If markets continue to just flop around one of these lines will be violated by the end of March.  Something to pay attention to.

S&P 500 is up about 3% for the year so far.  Money flow readings are currently neutral.

Long ETFs related to the S&P 500 in client and personal accounts.  Short S&P 500 in a personal account as part of a separate individual strategy.