There was much heavier selling on Monday which indicates the indexes should be nearing an inflection point, even for a short-time. The 2800 level held up to repeated testing and the index closed above it.
Many analysts are now calling for the S&P to break below 2800 to 2775 or 2750 before the correction ends. Normally this means pessimism is moving into the markets which could be signaling an end to the selling for the next day at the very least.
Advance Decline Numbers Outlook for Tue May 14 2019
Here are the market breadth indicator signals along with advance decline numbers from the S&P 500 Index and NASDAQ Index from the close of trading on Mon May 13 2019.
There were major changes in the market breadth signals after the close on Monday following one of the heaviest days of selling this year.
The market breadth indicator analysis and outlook is for FullyInformed Members.
Market Breadth Indicator – Advance Decline Numbers Outlook For Tue May 14 2019