Using simple trend line analysis, we see the equities market is trading at resistance and sideways or lower prices are more likely in the next week or two.
Stocks Trading Above 150-Day Moving Average Chart:
This chart, because it’s based on a very long term moving average (150-sma), is a slow mover and does not work well for timing traded. But with that said it does clearly warn you when stocks are getting a little overpriced and sellers could start at any time.
General rule is not to invest money on the long side when this chart is above the 75% level. Rather wait for a pullback below it.