As Financials Fade, S&P500 Loses Momentum

Here are a pair of charts from Ron Griess at The Chart Store. Taken together, they show potentially fading momentum for the rally.  

As noted last week, I still believe the rally is “Innocent until proven guilty,” but this is worth watching:

S&P Financial Sector

12-18-09-Daily-SP-Financials-Swing.gif

S&P 500 Weekly Momentum

12-18-09-Weekly-SP-w-MACD.gif


Originally published at The Big Picture and reproduced here with the author’s permission.
 
Opinions and comments on RGE EconoMonitors do not necessarily reflect the views of Roubini Global Economics, LLC, which encourages a free-ranging debate among its own analysts and our EconoMonitor community. RGE takes no responsibility for verifying the accuracy of any opinions expressed by outside contributors. We encourage cross-linking but must insist that no forwarding, reprinting, republication or any other redistribution of RGE content is permissible without expressed consent of RGE.