August Positions Report

Below is a weekly chart for the S&P 500, so each bar represents one full week of price action. From this larger perspective, there are three general paths that we are tracking. Blue – The bull market that began at the COVID low completed in early 2022. What has followed has been the start of a secular bear market with one more leg lower. This would make the current bull market a cyclical bull uptrend, within a secular bear downtrend.

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