Bearish Divergences Abound

posted in: Charts, S&P 500 | 0

A couple of noteworthy charts from the RBC technical analysis team:




Dow theory non-confirmation:


Despite the S&P 500 essentially sitting at all-time highs and the TSX Composite resting just below all-time highs  we are seeing a lot of sector weakness and a distinct lack of participation from the all important transports. Price is king, however, these potentially bearish divergences are well worth watching over the coming weeks.