The trend is up, and the SP500 is one step closer to reaching our first QE
III target:
We'll be keeping an eye on 1450 for early signs of a short-term trend reversal:
While the SP500 has moved sideways all of last week, market internals have
peaked and are bottoming out. Once the up cycle begins, it should provide
the fuel needed to continue the advance:
The technical outlook is seldom 100% bullish or bearish, and if we have to
pick something to worry about, it would be seasonality and the Election Year
cycle. It points to a drop until the end of October:
George Krum is the author of the "CIT Dates" blog and several
books available on Amazon.
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