The above weekly chart shows the SP500 index, it seems to have ended last week in an intimidating way, but the news and fundamental data are nowhere near as bad, so as to support a sustained decline. So far, the chart of the SP500 which is representative of the entire US stock markets, is showing a downward move which is more of an expected correction, and not a worrisome negative development. There is a slight but solid bearish divergence on the CCI index which confirms just that, a correction, and now with the latest readings from the leading indicators the expected buying pressure will come and override all other bearish indicators, big and small.
