S&P 500 Technical and Sentiment Indicators Getting Extended

Technically, the SPX has been moving as we suggested in the Weekly Summary; moved to new highs, but is likely to fall back as the momentum indicators become over-extended (chart below).

The 10-day MA of the put:call ratio continues to descend (bullish), but like the momentum indicators, it is getting over-extended and could turn around soon (chart below).

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