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

September’s Triple Witching Friday close at multi-week lows is particularly negative for the prospects of a rally, and further selling still looks likely over the next couple weeks to likely undercut 3700 before a relief rally can get underway in October.  While intra-day volatility was very present during Friday’s session as volume expanded and prices attempted to claw back to halve losses by the close, weekly charts still showed prices making new weekly lows on DJIA, SPX, NASDAQ at the lowest levels since July, and DJ Transports have now joined the weakness in selling off down to multi-month lows.  As discussed, markets remain in one of the most negative seasonal times of the year, and price action turned down on schedule earlier this week to confirm this bearish seasonality.  While one cannot rule out a 1-2 day bounce attempt given this week’s decline, I do not expect much strength until prices have reached support under 3700 in October.  Tactically, “cash remains king” and one should be patient until markets reach downside targets, and begin to show either volume and breadth divergences, or capitulation to buy.

The video in this report is only accessible to members

DJ Transports breaking down to near its 50% retracement

Fed-Ex’s with...

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