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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	9/13/2023 9:43:26 AM
	of 29600

Downside gap resistance between 4550 and 4575 continues to act as a cap to the near-term upside trajectory of stocks heading into the most volatile period for the market through the back half of September. MACD remains on the verge of charting a bearish crossover of its signal line, a sell signal that is playing out around the mid-point to the momentum indicator’s span. Gradually, characteristics of a bearish trend are starting to emerge as the strength that has played out through the first seven months of the year fades. Levels down to the June breakout point at 4200 remain fair game as part of this normal period of weakness that is upon us, but so long as the benchmark remains above this hurdle, the setup will be present to take a stab at bullish bets again for the best six months of the year for stocks that starts in October. equityclock.com

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