Wednesday 31 August 2022

A stall in August




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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