Chart of the Week: S&P500 Momentum Signals Terrifying Warning

by stockboardasset

Glancing through the chartbook this afternoon, I stumbled upon the S&P500 (monthly) with a Williams %R double banded oscillator signaling some very bearish news. Yet, the momentum indicator has yet to confirm this troubling analysis, we must realize that the potential for an unfair high could be nearing in the S&P500. The indicator has dropped out of the overbought range, and every time this occurs — well, a major drop usually occurs.