While the S&P500 has been advancing higher during the last several weeks, a lot of breadth and technical divergences have been formed. Given that the second half of July has historically been weak for the index, should we expect a potential pullback later this month?
The second half of July has been historically weak compared to the first two weeks of the month.
The SPX and its SPXA50r indicator formed a massive Bearish divergence over the last several months. The first divergence was formed last year and led to a 10% correction. Will history repeat?