Art Cashin & Bob Pisani predicted markets decline imminent!!!
The SPX appears to have made its high on Friday. The final time requirement of the Fibonacci Study was met on Monday and the decline to a new weekly low confirmed it. Today’s rally is a final 78.2% retracement that may have been fueled by Monday’s shorts being stopped out. Cycle Top resistance at 1512.53 may have also played a role in stopping the bounce.