While trading lows look near, lots of damage has been done

Key Takeaways

  • Trends & momentum remain negative short-term for US Equity indices and SPX requires a move back over 4653 to expect this weakness is complete
  • WTI Crude should be nearing support for a bounce starting next week which should help Energy recover
  • Homebuilders remain a very strong technical group and should be favored.

Thursday’s rally, is similar to Wednesday’s bounce, failed to show sufficient strength to think a low is in. Overall, daily closes over 4653 will...

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