S&P 500 Sell Signals Indicate Limited Further Advance: Technical Analysis

The Standard & Poor’s 500 Index may be unable to gain further after climbing 16 percent from this year’s low, according to John Fletcher, an exchange-traded fund specialist and technical analyst at Charles Stanley in London. A sell signal for the benchmark index for U.S. equities has been triggered after 13 days on which the gauge closed at a higher level than two days previously, Fletcher said in a phone interview today, citing indicators developed by Tom DeMark of DeMark Analytics LLC.

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