Market suffered through another 2% downside day for most major indices. As we said in our comments today, the our key indicators were getting oversold enough that they were “turning positive.” As an example, as of Today’s close, only 4% of the S&P 500 (SPX) components were trading above their respective 10-day moving averages. That is a pretty extreme reading that typically doesn’t last too long.
Past performance is not a guarantee of future results. Index performance is unmanaged and does not include fees and expenses. All market data points are from Bloomberg as of 10/11/18.
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