MM Big Picture Update: Crisis Season Approaching
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With one day of data left in the month, I'm going to go ahead and put out what August's data is showing on the monthly charts through November. Looking at sentiment, there is a clear shift beginning to show in September. The pattern for September and October reflects a focus on economic and domestic matters (U.S.). The pattern for October and November adds a crisis/upheaval component, which makes sense with the elections coming up. How much actual crisis there will be, we will have to see, but at least the perception of crisis/upheaval/turmoil is likely through November.
Put into the MMI algorithm, here's the monthly SPX market projections:
Zooming into the latest weekly chart, assuming no drastic changes by end of day today, here's the MMI weekly SPX market outlook:
