The video in this report is only accessible to members
The video in this report is only accessible to members

Note: I’ll be traveling the balance of this week, and there will be no market reports nor videos for Thursday 8/18, nor Friday, 8/19.  These will resume the following Monday, 8/22.  Thank you for your continued support and understanding.

Wednesday’s About-face might have seemed like a welcome change for those fighting this rally, but it accomplished precious little with regards to trend deterioration.  Most of this decline occurred within Materials, and Communication Services, and Semiconductors within Technology.   Meanwhile, Consumer Staples and Energy outperformed, as the WTI Crude decline found temporary support.  Overall, until $SPX-4186 is broken, this decline might not extend too dramatically and might find support near the ongoing one-month uptrend.  

As detailed last evening, while near-term overbought conditions and the start of some Defensive trading might bring about a minor pullback at any time, the larger peak to the rally from June/July lows likely won’t materialize until September.  That’s a time when the $DXY and $TNX rallies might accelerate a bit more towards June/July highs, providing a possible larger stock market reversal.  At present, pullbacks should find supp...

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