Quote from JSSPMK:
"...We must confess that we are puzzled as to why the S&P 500 hasn't already seen another big downleg, as technically the index has looked like it was dangling on the edge of a renewed selloff for over a week, with bond yields leading the way. The index had failed to keep above its 200-day moving average and has again broken below its 50-day moving average?with no immediately visible support below._ There is also the obvious de-coupling from the bond market?and while there are concerns that the latest spurt in bond prices has come too far, too fast and bonds are beginning to look like a very crowded trade, there is as yet no convincing economic data that inflationists can hang their hat on..."
Source Japaninvestor.com
1,061.75 is 50% of July's trading range, below it is 81 & 100 SMAs magnets.
