Over the weekend, a friend who I value as one of the smartest DeMark analysts out there sent me the chart below. It shows the S&P 500 ETF completing a Sequential 9-13-9 Sell Signal this month.

spy

What’s more, Wednesday marks the 1st of May (“sell in May” has worked very well in recent history) and with stocks new highs they are potentially forming a massive broadening top:

spy