By Licia Leslie
July 13, 2025
Hi Shoppers,
There is a hint of bearishness in the air.
Let me show you.
The S&P 500 (Ticker: SPX) closed below the median line of my pitchfork which held as support since June 30th.
May not be a big deal but we will see.
As the SPX is climbing with higher lows, the relative strength index is showing us bearish divergence meaning it is trending lower:
The RSI has also crossed back below 70 which is a bearish signal.
The moving average convergence divergence or MACD is slightly sloping bearish. (MACD on the QQQs has turned red.)
The SPX weekly chart may be sporting a tweezers top candlestick pattern which occurs when two candles have the same high and this tweezers second candle is a doji:
This may be signaling a top.
Of course we need confirmation of the market trading lower on Monday.
A little icing on the cake, gold futures have perked up again denoting uncertainty may be returning to the market.
And lastly there was this headline on Friday:
I rest my case.
Trade Review
IBM never traded higher on Friday so no trade was made.
Thank You For Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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