Market Breadth Data******************************

Tuesday, July 04, 2023

SPX Pattern, Trend and Seasonality

 July brings a new set of challenges for the major indices.

The first three weeks of the month are seasonally very strong, suggesting that the current rally can stretch even further.

On the other hand, however, both daily and weekly pattern readings have reached overbought levels, thus setting the stage for a swing reversal:








Weekly targets: 4330 - 4530, Pivot line at 4400:



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