Three Key Charts Showing Bearish Divergences Suggest Pullback Imminent For S&P 500 And Nasdaq
Portfolio Pulse from David Keller
The article discusses the potential for a pullback in the S&P 500 and Nasdaq due to bearish divergences. The author identifies bearish divergences in key growth stocks such as NVDA, LRCX, and AMZN, suggesting that the uptrend phase is likely exhausted and a downside test of key support levels is imminent.
July 10, 2023 | 7:27 pm
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AMZN is showing a bearish divergence, indicating a potential trend exhaustion and a likely pullback.
The article mentions a bearish divergence in AMZN, which is a technical signal that the stock's uptrend may be nearing its end. This could lead to a short-term pullback in the stock's price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
LRCX is showing a bearish divergence, indicating a potential trend exhaustion and a likely pullback.
The article mentions a bearish divergence in LRCX, which is a technical signal that the stock's uptrend may be nearing its end. This could lead to a short-term pullback in the stock's price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NVDA is showing a bearish divergence, indicating a potential trend exhaustion and a likely pullback.
The article mentions a bearish divergence in NVDA, which is a technical signal that the stock's uptrend may be nearing its end. This could lead to a short-term pullback in the stock's price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80