SPX,tactically speaking, too late to chase the rally

The S&P500 future has completed a countdown, leading to a market timing sell signal identifying a trend exhaustion area below 2795.75. There is the same signal for the Nasdaq and in Europe, EURO STOXX 50, Euronext 100, FTSE Eurotop 100…In addition, the chart shows a MACD classic bearish divergence, suggesting the index has reached an area where price could reverse and start declining. It’s clear enough: this market is ready for a pause/pullback or reversal.

Tactically speaking, to say the least, it is too late to chase the rally.