In today’s briefing:
- Risk Pivots and Color into Late September
- Bloomberg Commodity Index Breaks 2.5-Year Uptrend; Key Indexes/Sectors Testing Support at YTD Lows
Risk Pivots and Color into Late September
- Risk pivots and action points into our late September capitulation cycle with a granular look at intraday SPX, NDX and DXY wedge patterns. DJI new low leads.
- September 27/28 cycle date with a secondary timeline in early October. Need final touches into new lows for a turn signal. 27-28 capitulation that leads to a key low.
- Impulsive yield rise fits with a blow off yield move toward 4.19% projection with DXY to 115.40 and an SPX crack to a new low (3,530 once below 3,650).
Bloomberg Commodity Index Breaks 2.5-Year Uptrend; Key Indexes/Sectors Testing Support at YTD Lows
- In last week’s Macro Vision report, we noted breaks below 3900 on the SPX and $293 on the QQQ opened the door for a test of YTD lows, or worse.
- We are now getting a test of the YTD lows of 3636 on the S&P 500 and $269 on QQQ
- With so many indexes and key Sectors currently oversold and testing support, we could certainly see a bounce/pause at current levels.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
