Drizzt: long term market analysis is a series once or twice a month where we take a look at longer term trends in the market to get our bearings right on the general direction of where market prices is going.
S&P 500 Monthly
STI Monthly
I will try to keep this short as I don’t see anything different on the monthly charts. On the S&P 500, we lost 7.2% this month. 6 and 10 month EMA made a clean cut through the only saving grace is that the PMO have not indicated a cross over.
It is almost the same for the STI except that the PMO had a cross over.
For the bulls to still make this a correction, we need a strong rally in October, which is traditionally a good month for the bears.
Note, in 2010 we have something similar to this which we thought ...
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