Replies to post #68174 on S&P 500 & Nasdaq Analysis and Trends

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The Dow for 8/5/24
By: Marty Armstrong | August 5, 2024

Here is the current Array and take note that next week is now a Double Directional Change. We can still see this form a bear trap with a bounce that becomes perhaps a false move into the last week of August with a decline in September. Generally, a weekly closing below the 38900 area will warn that we can see a more pronounced correction ahead. Also, observe that the volatility was to begin rising here this week of August 5th, which will build into September.





This appears to be a similar pattern to 1998 with the July high and the September/October low.

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