S&P MINUS THE TOP 8 PLAYERS
If we remove the Top 8 companies by market cap (basically all tech), the S&P looks terrible.
I would consider this the true state of the economy.
Since May 2023, these companies overall are trading well below the 55 EMA and starting, to what looks like, form a bearish pennant down the .50 Fib support.
I have a feeling that by early October, we start to see capitulation take place because the wick to the Oct 2022 lows was not sufficient for a market reset.
I would consider this the true state of the economy.
Since May 2023, these companies overall are trading well below the 55 EMA and starting, to what looks like, form a bearish pennant down the .50 Fib support.
I have a feeling that by early October, we start to see capitulation take place because the wick to the Oct 2022 lows was not sufficient for a market reset.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.