SPX grinding higher
The SPX continues to grind higher in extremely overbought conditions. Its nearing the top channel as you can see and break will come for the bears. Right now its riskier to initiate any longs. Those on the sidelines are safe and cash can be a good alternative for a position. Major stocks are taking a tumble GOOGL, NFLX, TSLA, AMZN all are on decline. Main reason is when RUT is doing well these big ones also do well and move higher. Unless you short some of these there is not much there is to them at the moment. Please take a look at the video.