Market Analysis and Trades for 8/19
The Weakness Continues
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The weekly post for SPY 0.00%↑, QQQ 0.00%↑ and GLD 0.00%↑ should be reviewed prior to this. It can be found here Market Analysis for the Week of 8/16
The size of this pullback isn’t (yet) notable but this has been a rather spectacular change in character. The location from which it has come (NQ 30269) was quite technical, but profiles suggest that something has materially changed. It is OPEX week and in this market anything goes, but regardless of how the rest of the week goes, certain things can’t be unseen. Bulls need to find their feet and find their feet quickly, with only one way to terminate this downtrend.
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