Monday, 31 October 2022

Still mid term broken


 


Summary 

The SPX saw a net October gain of +286pts (8.0%) to 3871. This was a seventh consecutive bearish monthly settlement under the 10MA (4101). Momentum ticked upward, but remains on the extremely low side. 

It should be clear, the market remains mid term broken. That would arguably only change with some sustained action >4100.
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Friday, 30 September 2022

Spiraling lower

 



Summary 

The SPX saw a net September decline of -369pts (9.3%) to 3585. This was a sixth consecutive bearish monthly settlement under the 10MA (4190). Momentum ticked lower, and is on the extremely low side.

Most notable is the stall from the key 10MA, where the daily 200MA was also lurking.
Q4 should broadly favour the equity bears to 3200/2900.
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Wednesday, 31 August 2022

A stall in August

 


 


Summary 

The SPX saw a net August decline of -175pts (4.2%) to 3955. This was a fifth consecutive bearish monthly settlement under the 10MA (4288). Momentum ticked lower, and is on the extremely low side.

Most notable is the stall from the key 10MA, where the daily 200MA was also lurking.
Sept' > early November should favour the equity bears to the 3200/2900 zone.
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