NextGen Chart of the Day: S&P 500

There are a lot of crosscurrents in the market right now, so is it time to buy or time to be cautious? Let’s look at what the charts tell us. The S&P 500 has been consolidating since hitting an all-time high on March 1, but it is holding above short-term support, which is positive. To figure out what to do next, we’ll look at a historical indicator that tells us a buy signal could be in the S&P’s near future.

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