Thurs’ July 27th saw a downside reversal from sp’4607, with a resulting bearish engulfing daily candle. The obvious issue is whether that marks a short or even mid term top, of the climb from 3491 of Oct’2022.
Tues’ Aug’3rd saw decisive breaks in bonds/yields, and it bodes a ‘problem’ for equities.
Regardless of how August settles, Sept/Oct’ typically favours the equity bears, and I’ll hope for some ‘market drama’, if only for entertainment reasons.
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