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Strategies & Market Trends : News Links and Chart Links

SPXL 214.95

+2.8%

4:00 PM EST

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From: Les H	9/11/2023 10:24:15 AM
	of 29600

The appearance of a lower-high below the 52-week high charted at the start of August provides the appearance of a topping pattern, the downside resolution of which could see a giveback of much of the strength that had been achieved through the spring and into the summer. A level of horizontal support can be pegged around 4335, providing the basis for a neckline to a head-and-shoulders setup. Momentum indicators are rolling over around their middle lines, starting to adopt characteristics of a bearish trend. Levels down to the June breakout point at 4200 remain fair game as part of this period of volatility/weakness that spans the months of August and September, but, so long as this horizontal barrier holds, the pullback that remains underway presents a healthy reset to get re-involved in the market for the best six month of the year timeframe that starts in October. equityclock.com Stock-Market History Signals Looming Mkt. Weakness riskhedge.com

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