The Unimpressive Momentum in the S&P 500

The video discusses the S&P 500's recent performance, highlighting its first down day in nine sessions. It examines the historical range between 2600 and 2800, noting past instances when the index exceeded this range. The RSI momentum indicator's role in these movements is analyzed, showing overbought conditions leading to volatility. The current market position is reviewed, with the S&P 500 again above the range, suggesting potential for a pullback.

What were the implications of the series of bearish lower highs into the volatility of last year?

What does the current position of the S&P 500 suggest about potential market movements?