Market Update for Tuesday, September 5th, 2023

Good afternoon, traders. I hope you had a fine weekend.

Nothing has changed in my views from last week.

The S&P 500 is consolidating after a big rally that took it back towards the primary channel from which it fell:


As far as I can tell, there remains two ways we can count it, as this sharp leg of the rally that began on the 25th looks impulsive:

This section has been reserved for members. Visit the Join page to learn more about becoming a member.

So, that’s what I think for now. I think the bulls still have a chance to move us up, and we’ll see if they can pull it off.

I hope everyone has a fine evening, and I look forward to seeing you tomorrow.

Parts of this article may be reserved for members. You may learn more about becoming a member on the Join page. There is also public and private content on my Discord server. The invite link is here.