The video in this report is only accessible to members
The video in this report is only accessible to members

Schedule Update: I will be traveling on Friday (8/11) and there will be no Daily Technical Report nor Technical Video published. Daily technical strategy will resume on Monday 8/14.

Markets have entered a window for a potential low, but technically odds favor a possible decline under this week’s lows before SPX bottoms early next week.  US Dollar and US Treasury yields look to be on the verge of a larger decline in August which should aid Emerging markets, and Commodities.

The bounce in Treasury yields directly coincided with US Equity weakness, but Yields look to have limited upside ahead of a turn back lower which should also be close in the US Dollar.

SPX has support at 4425-4455, and this looks likely to be tested Friday and/or next Monday before SPX bottoms out. 

Reasons specifically for an upcoming technical bottom are as follows:

Intra-month cycles show early August pullbacks to bottom out at this time in pre-election years DeMark counter-trend indicators will line up with downside exhaustion potentially as early as Monday of next week on hourly, 2-hour, and Daily charts. Semiconductor weakness looks almost complete after a sloppy decline.  SOX is nearing a time of equa...

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