Key Takeaways

  • Friday’s rally helped the week finish on better footing, though still requires more upside to trust that it’s not just a bounce to sell into. 
  • TLT looks to be bottoming out, and Friday’s minor Treasury decline should be buyable
  • Bitcoin and other Cryptocurrencies have shown signs of holding last Summer’s lows.  This looks like a short-term tradable low, with stops at this week’s lows.
The video in this report is only accessible to members
The video in this report is only accessible to members

Friday’s bounce managed to cut this week’s losses nearly in half, but despite the massive upside volume, overall volume was sub-par and more will be needed to think even minor lows are at hand.  Hourly SPX charts below are helpful towards putting this recent decline into perspective, and prices should face meaningful resistance up near 4100, which intersects the former early lows from May while above lies meaningful downtrend line resistance.  This rally should take the form of a three-wave ABC type bounce before retesting lows.  If/when downtrends are broken, and AAPL, MSFT recoup $150, $270 respectively, one would have more conviction that more meaningful lows could be in place.

The video in this report is only accessible to members

Technical Developments this past week & what’s ahead

Foreword:  It’s always tough to know wheth...

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Macro subscription is required in order to access this content.

*Free trial available only on a monthly plan

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’ve reached your limit of 2 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In

Don't Miss Out
First Month Free