The Gilmo Report

October 6, 2021

October 6, 2021 7:26 pm ET

The market’s character continues to evolve bearishly but is currently trying to hold steady after becoming near-term oversold. We might consider the first sign of a possible tidal shift to have been the S&P 500 Index’s inability to hold support at its 50-day moving average two weeks ago, something it had done throughout the summer. That has resulted in a correction of -5.87% from peak to trough, and the index is now forming what looks like a short bear flag along the mid-September low.

 

 

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