Coiling, coiling, coiling...
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S&P is still within the 2% range since mid July. I think Sam Stovall is right about the market going south before heading higher. I just don't know what it's going to take to get that move lower. Black swan event?
With this being an election year, the Fed is likely to keep rates stable, at least until after the election. Maybe we'll just float along until then? (Highly doubtful).
Note the BB width at the bottom of the chart; a teeny 1.1. Can't get too much more narrow than that! BB width for bonds look very similar.
Composite system remains at -1, a hold/sell. I'll be keeping my eye on the Nasdaq and Mr Tran tomorrow to see if either of them lead the market higher... or lower.
Good luck!
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