I don’t have a lot fundamentally to discuss this weekend. I will, however, run through a somewhat long list of technical features that I see on a variety of instruments.
It is still possible for the S&P 500 to have another leg up (discussed here) because the triangle did not break down and we began to take out some of the highs to our left (from this again), but, we perhaps did not take out enough of them, as the consolidation from 6/29 (orange ellipse pointed to below) is especially important. As it stands, the rally on Friday felt to me like short covering only, and we remain within “technical” bear market territory.
Read more “So Far So Good; Alternatives I See From Here Are Either: 1) Bearish, or 2) More Bearish”
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