June 21, 2009 June 21, 2009 By charlie In , , , , ,

NYSE Summation Index

NYSI090619Despite 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.