The August low in SPX was breached decisively this past week. As the 3rd quarter concludes this coming week, we will see if SPX delivers the first red monthly bar since January (Chart 1).
The ongoing subsequent rebound is strong. It likely will craw along the underside of a potential prior wedge as this potential topping process progresses (Chart 2).
The LT & MT pattern on AMZN looks dangerous which is probably a sign of the overall mkt which has not made any much real net gain since May.
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