From the desk of Steven Strazza @Sstrazza and Grant Hawkridge @granthawkridge
You’re probably sick of hearing this but it’s important! Even with the recent bout of volatility, new lows have been non-existent across most of the major averages in the US.
To be fair, many of our Intermarket relationships are still flashing red, suggesting continued headwinds for risk assets.
Earlier this week we saw significant selling pressure in equity markets both domestically and abroad. Conditions are as ripe as they’ve been in more than a year for the bears.
So, did we finally get that “fall day,” as our fellow Technician and friend Mike Hurley likes to call it?
The simple answer is no…