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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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Lee Lichterman III

From: Les H	8/31/2023 1:31:34 AM
	1 Recommendation of 29600

Stocks closed higher for a fourth straight session on Wednesday as the normal drift higher into the Labor day long weekend continues. The S&P 500 Index closed with a gain of just less than four-tenths of one percent, moving further above resistance at 20 and 50-day moving averages that were broken in the prior session. Downside gap resistance between 4550 and 4575 is the next major hurdle to watch as this kicked off the normal August slump, coinciding with the period of volatility for stocks during the third quarter. The weakest time of year for the equity market is still ahead, spanning the last half of September, and we have no reason to expect a deviation compared to the seasonal norm ahead of the best six months of the year period for stocks that starts in October. equityclock.com

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