What follows are the topics covered in this weekend's note to subscribers. To become a client of Zenolytics Turning Points or to learn more click here.
The excerpt from last weekend's note is available here.
In this weekend's 13 page note we discuss:
- How the decline to begin September was a "tell" and what that tell entails.
- The role of seasonality this election year.
- Important names that have gone from being under accumulation to being under distribution.
- A technical review of the Nasdaq and the S&P along with downside targets.
MARKET UPDATE
At this very point in time, the S&P should have been at 3600-3700.
The rally in technology should have been gaining momentum virtually unabated.
Lagging sectors should have been in the midst of a recovery to demonstrate, at a minimum, some semblance of a respectable recovery since the March lows.
That was the road map for this time period created when the market bottomed in March, without much in the way of any indications that this road map would be compromised in any manner through the end of August.
What we have experienced in September, however, has been a complete annihilation of that road map. The market has been telling us for months now that the bullish road map was both robust and significant in its ability to outperform. The market is now telling us the exact opposite.
The bullish road map is now null and void. Recognition of this fact will be a key driver of outperformance for the next several weeks, at a minimum, if not for the remainder of the 2020.
To view the entirety of this weekend's note, you can subscribe by clicking here.
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