Friday 29 September 2023

Rolling over



The SPX saw a net September decline of -219pts (4.9%) to 4288. Momentum has rolled over, and will be prone to turning negative in mid/late October, or as of Nov'1st.

The August candle - a hanging man, played out.

Things turn 'real interesting' for the equity bears, with a monthly settlement back under the key 10MA, currently 4217, which is near the daily 200MA (4199).

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