Increasingly bearish

With a net monthly decline of -131pts (6.3%) at sp'1972, US equity indexes are increasingly bearish. Regardless of any continued bounce into mid September (even as high as the 2050/70 zone), there looks to be high probability that the Aug' low was not a key multi-month low.

sp'monthly9

Summary

Suffice to say, August settled with a very significant net decline of -131pts (6.3%) @ 1972, with an intra month low of 1867.

Price momentum continues to swing toward the equity bears at an accelerated rate. We've not seen price momentum this negative since June 2009.
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The next 3-5 weeks could prove to be even wilder than the latter half of August.
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Best case for the equity bears?

sp'weekly8

The low sp'1700s look viable in October, where they are multiple aspects of support.