The charts below were included in an NFTRH update last week. I want to put them up here as well to give readers a view of a market that is losing sponsorship and being diverged negatively by several other beneath the surface indicators as well.
Does it mean the market must go down? No, the Fed stands ready to perpetrate QE4 (ref. the Bullard Jawbone), the economy is still good, corporate earnings are still good and the November-April seasonal pattern is in play. It’s all good! And that could be part of the problem. Note similar divergence to the lead-in to October’s correction.
Click on picture to enlarge
Click on picture to enlarge
Click on picture to enlarge
Click on picture to enlarge
