Bigger picture remains unchanged

It remains highly amusing how many are glossing over what was severe technical damage to the weekly/monthly cycles in August. There remains very high threat of renewed severe downside into October. Until the market is back above the monthly 10MA (sp'2052).. the bull maniacs should remain highly cautious.


sp'weekly1b

sp'monthly1b

Summary

Suffice to say...

A little higher into Wed/Thursday.. and then (in theory).. we should fall... and keep falling into mid October.
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Update from Oscar


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Looking ahead

Tuesday will see the Richmond Fed manu' index

*Fed official Lockhart is set to speak... but that is after the close.
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Goodnight from London