S&P 500 IndexShort
SPY + QQQ + SPX500 : Likely to sell off soon
A correction occurring in the next few trading days is likely:
Confluence factors:
+ Put call ratio of 1.31 on Jun 18th, the last 3 times this has happened the market has sold off and has been overbought on the oscillators.
+ Indicators show overbought + bearish divs.
+
UVXY has sold off heavily and is likely to rebound soon.
+ The NAS100/QQQ did not hit it's previous highs and did not make new ones, only the full NASDAQ composite made new highs.
Confluence factors:
+ Put call ratio of 1.31 on Jun 18th, the last 3 times this has happened the market has sold off and has been overbought on the oscillators.
+ Indicators show overbought + bearish divs.
+
UVXY has sold off heavily and is likely to rebound soon.+ The NAS100/QQQ did not hit it's previous highs and did not make new ones, only the full NASDAQ composite made new highs.
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