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The video in this report is only accessible to members

US Equity indices’ ability to carve out a positive week doesn’t take away some of the short-term negatives that remain in place.  It’s thought that the next couple weeks have the potential to be volatile before a low and larger bounce gets underway in September  

Friday’s bounce looked to be something to play for given the possibility of hourly oversold conditions following Thursday’s decline along with the recent wave structure of the move in Treasuries.  SPX bounced right from near the first support target mentioned last night near 4363.

However, it’s tough just yet thinking the short-term low discussed over the past week is in, and the subsequent bounce in September has definitively gotten underway.  A few of the following issued merit further discussion and analysis:

Wave structure in S&P’s bounce from Thursday’s lows was not particularly constructive DeMark exhaustion is not yet in place on TYX monthly, and not ideal on TNX, TYX weekly, not to mention TLT monthly Symbolik charts which call for a retest of lows. Breadth nor momentum deteriorated sufficiently as of yet to match March 2023 lows Seasonality remains difficult in September Short-term Elliott-wa...

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