A fourth consecutive net monthly gain, having printed a new hist’ high of 6508. RSI 71s is overbought. A fourth monthly settlement above the key 10MA (6000), as the m/t trend is bullish. Monthly momentum is increasingly positive.
A correction is increasingly due…
I’m open to a marginal higher high in early/mid September, but anything >6550 looks a stretch. We’re clearly due a multi-week cooling wave. In theory… spanning 5-7 weeks… to the 5800s.
From mid/late Oct’, the seasonal setup will favour the bulls into early January… to perhaps the 6600/700s.
Yours… charts 24/7/365
