Thursday 31 August 2023

Mid term ceiling?



The SPX saw a net August decline of -81pts (1.8%) to 4507. Momentum ticked upward for an eleventh consecutive month, having turned positive at the July 3rd open.

The August candle is a hanging man, which bodes problematic for September.

Things only turn interesting again for the equity bears with a monthly settlement back under the key 10MA, currently 4197, which is near the daily 200MA (4157).

For more of the same... 

For details >>>