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Strategies & Market Trends : News Links and Chart Links

SPXL 214.95

+2.8%

Nov 25 4:00 PM EST

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From: Les H	8/29/2023 8:38:36 AM
	of 29600

Stocks closed with a gain on Monday as the normal positivity that surrounds the Labor day long weekend materializes on cue. The S&P 500 Index ended higher by six-tenths of one percent, remaining below implied resistance at the 20 and 50-day moving averages, presently around 4450. Momentum indicators continue to rebound from their lows charted over the past couple of weeks, but they remain below their middle lines, which is characteristic of a bearish trend. While we have been seeking this reprieve in selling pressures as part of this normal period of volatility through August and September, we have to be prepared for the weakest time of the year for stocks coming up in September, often a period where standing back from risk has historically been beneficial. equityclock.com

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