With the break back into the 1690s, the bigger weekly charts are flipping back to outright bullish. Precious metals remain under severe downside pressure, with Gold -$40. VIX is reflecting a market that realises a temporary shutdown is not actually important, -4% in the 15.90s.
sp'weekly8
sp'60min
Summary
There are a LOT of bullish signals right now. Of course, equity bulls should be looking for a daily close at..or above current levels to confirm this is not just a fake out. .
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Upside target zone for October remains 1750/75, although I realise the 1760/70s look difficult right now.
Yours truly...is indeed Permabear in name..but..not in trading direction.
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A twisted world indeed.