Is a Bearish Stock Market Triple Top in the Works?

Chris Ciovacco

The sharp recovery in stock market prices has been constructive for investors.

However, the S&P 500 Index (INDEXSP: .INX) is testing +/- 1 percent price area that lead to two previous trading tops.

If the stock market corrects from here, we could form a technical triple top.

When we combine this possibility with recent weak economic data, we get concerned investors.

In this week’s video, we look at the validity of this price pattern and whether investors should be concerned about this potentially bearish formation.

We discuss current market data and facts, along with several key stock market indicators to properly assess the probabilities of good or bad things to come.

Stock Market Video – For week of June 24, 2019

Click play, then you can use the button in the lower-right corner of the video image to view in full-screen mode. Hit Escape (esc) to exit the full-screen mode.

Twitter:  @CiovaccoCapital

The author or his clients may hold positions in mentioned securities at the time of publication.  Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

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