Summary
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).
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