After a torrid run over the last year and a half the S&P 500 is showing real signs of weakness.

Over the last few weeks all the higher volume days have been down days and with today's sell off we have I first lower low in I can't even remember how long.

### Extended and Toppy

 https://img.inleo.io/DQmboZRwiQaaNvj3ponjxMEf2hEkt3hF79FcNe2JUkK7vmu/image.png 

Looking at this chart you can see how far away it has run from the 200 day moving average (yellow line).  Prices don't have to necessarily move back to that average, but some reversion to the mean is to be expected at some point.

From a less technical perspective, the reality that the FED won't be cutting rates four or even three times has come in and there is worry if they will cut twice or at all at this point.

Strong employment and persistent inflation isn't helping the narrative either.

Additionally, earning seasons is upon us and so far its off to a slow start.

Can AI expectations save the day or have those gotten to far out of whack by now?

Should be an interesting few weeks.

Posted Using [InLeo Alpha](https://inleo.io/@scaredycatguide/is-the-us-stock-market-rolling-over)