The markets were unable to turn around two days of losses, leaving us quite oversold going into the end of month. Although Cumulative Tick is net positive, it seems all internals are downward sloping even as the VIX has risen sharply (more significant on a Friday), and Down Volume begins to outpace Up Volume. Also, the five-day moving average is now downward sloping. On the other hand, the S&P 500 is sitting right on it's twenty-day moving average, which has proven strong support during recent bull-market dips. Also note the large potentially supportive volume spike right as we hit that level/ SPX +/-1,035.
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