Minor bounce to kick off October, but the Damage has been done

Key Takeaways

Minor bounce looks to be underway to kick off October after several failed pullbacks in the last 24 hours. Given ongoing negative trends/momentum from early September, this is thought to prove short-lived and not eclipse SPX 4400 before additional weaknessMarket breadth remains abysmal with Percentage of stocks above their 50- and 200-day moving averages having reached new lows for the year while momentum not oversoldNo evidence of capitulation to think this short-term decline ...

Finish reading this report for free

Enter your email and we’ll send the paywall-free link directly to your inbox

In addition to your unlocked report, you will receive our weekly market newsletter FSI Snapshot, as well as occasional updates and offers from FS Insight. You can unsubscribe at any time. For more information, see our privacy policy.

Get unlimited access to Tom Lee’s Fundstrat research Subscribe
Already a member? Log in
Disclosures (show)

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You are reading the last free article for this month.

By continuing, you agree to the Terms of Service and Privacy Policy.

Already have an account? Sign In

Trending tickers in our research

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You are reading the last free article for this month.

By continuing, you agree to the Terms of Service and Privacy Policy.

Already have an account? Sign In