# Is the S&P 500 about to sell off?



## nysefloortrader (3 March 2013)

Well, there was a nice RUN UP since november 2012

but now, only a few days ago, the summation charts or market breadth have switched over to a SELL or SELL RALLIES signal, and if you have a look at the USD chart, its obvious that right now, money is coming out of the market, and into USD and BONDS. 

But alas, on a sell signal, we normally have one good selloff in a 12 month period, and we could be looking at that here. 










Have a look at the weekly NASDAQ chart, it is up at a significant resistance point, and the weekly stochastics is starting to turn. So I would see this as a warning shot across the bow, before more selling off most likely in MARCH / APRIL. So within the next 8 - 10 weeks, I would be looking for more down. Weekly charts are the best to look at when watching the leader like nasdaq. So I would be looking for more stalling, before down and more bears to come in take the market down a bit. 






We must remember we are still in a bull market, but it seems the breadth and many indicators are saying there is a dip coming in the next several weeks, so soon....... the summation is only days old for a SELL THIS MARKET indication, and we could still rally up a bit, but my guess is the smart money is going to start selling the market very soon as we look for more down and red to come and take out sell stop programs for those who are long this market. 

Happy trading.


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