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Flush?

flushLooks flushy today. Which brings me back to a chart we have been following for a long time. Regular readers of this blog may recognize it. It’s the weekly $SPX chart tracking the weekly 50 moving average. Over the summer we noted how the $SPX was the most vertically disconnected from it ever.

Not so much anymore but all of market history has shown it to be a regularly visited magnet. Before QQ anyways. QE is ending after this month.

Well, maybe we’ll get a quick flush down to it. I’d be a buyer there:

SPX weekly

 

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Categories: Daily Market Brief

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