Daily Market Brief

Can you spot the Change?

mysteryThe monthly chart of the $SPX is a stunning piece of uniformity. Nestled along its 5 EMA it has continued to chug along in a steady fashion with barely a disturbance in the force for over 2 years. As we are approaching the end of July can you spot the change in trend that has defined the month of July so far? Does it represent a change in trend from the past 2 years or will the trend reassert itself before month end? Hint: The trend demands a specific price target being met before month end:

SPX monthly

Advertisements

Categories: Daily Market Brief

Tagged as:

6 replies »

    • In the entire 2 year rally there has not been a 2 months sequence disconnected from the 5EMA. Single months yes (rarely), but never 2. This suggests trend re-connect before month end. Does not guarantee it, but that has been the trend.

Comment:

This site uses Akismet to reduce spam. Learn how your comment data is processed.