Equal-weighted SPX now nearing intermediate-term support

Trends failed to show much evidence of reversing course after the early 3% gap-down and coincided with strong selling globally across many Equity markets. While a 4% SPX decline normally is followed by a rebound in the following session, it’s important to see some semblance of stabilization in Equities sooner rather than later, given the extent of this selloff. Gold, Treasuries and the Japanese Yen acted like safety trades ...

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