Thursday 30 June 2022

Momentum is increasingly negative




The SPX saw a net June decline gain of -346pts (8.4%) to 3785. This was a third consecutive bearish monthly settlement under the 10MA (4371). Momentum is increasingly negative, and should continue to weaken into the summer. 

Primary target is the lower monthly bollinger, currently at 3550, but that will adjust/jump to around 3600 as of July 1st.

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