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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