Technical Analysis

S&P 500 breaks the weekly low and 2950

The picture continues to worsen

Suddenly no one wants to hold stocks into the weekend.

The S&P 500 is down 31 points to 2946. This is a key level as we threaten to break back into the August range.

I think there’s a chance of a bounce here because I don’t think that range will break into the weekend.

It’s also interesting that gold and bonds aren’t sending the same kind of risk-averse signals as the stock market.

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