NYSE Summation Index
Despite Friday’s positive close in the S&P 500, the NYSE Summation Index continues to fall from levels not seen since 2004. Until this chart reverses and begins making X’s, the S&P 500 remains a dangerous place for investment. As market breadth continues to weaken, the probability of a successful purchase decreases as fewer stocks are rising. Do not fight the trend and remain patient, the market is anticipating unmet expectations and negative surprises.