Announcement
Super Grannies and Market Update – June 30 Webinar Cancelled

Top 10 Technical reasons to think a low is right around the corner

SPX’s technical trend and momentum remain bearish but are nearing areas in price and time this week, which might produce a short-term low, allowing for the start of a sharp bounce into February.  Given the orderly selling that has occurred this month vs. the abrupt, unexpected decline in mid-December, it might be unlikely that capitulation measures happen right away before Equities bottom. Given the return to Stock/bond positive correlation, some evidence of yields peaking will likel

SPX’s technical trend and momentum remain bearish but are nearing areas in price and time this week, which might produce a short-term low, allowing for the start of a sharp bounce into February.  Given the orderly selling that has occurred this month vs. the abrupt, unexpected decline in mid-December, it might be unlikely that capitulation measures happen right away before Equities bottom. Given the return to Stock/bond positive correlation, some evidence of yields peaking will likely be important to trust any bounce in the Equity market. Stocks like AAPL and NVDA look to have arrived near important levels, and given the worsening in sentiment in recent weeks, a reversal to this recent downdraft looks quite likely this week at a time when many investors least expect it.  However, the extent of the breadth deterioration has proven severe in recent weeks and a bounce in Equal-weighted SPX might be necessary before having too much confidence that a sustainable low is firmly in place.

...

Finish reading this report for free

Enter your email and we’ll send the paywall-free link directly to your inbox

In addition to your unlocked report, you will receive our weekly market newsletter FSI Snapshot, as well as occasional updates and offers from FS Insight. You can unsubscribe at any time. For more information, see our privacy policy.

Get unlimited access to Tom Lee’s Fundstrat research Subscribe
Already a member? Log in
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 are reading the last free article for this month.

By continuing, you agree to the Terms of Service and Privacy Policy.

Already have an account? Sign In

Trending tickers in our research

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 are reading the last free article for this month.

By continuing, you agree to the Terms of Service and Privacy Policy.

Already have an account? Sign In