Here’s My Blueprint for Stocks This Week

Stocks held their 50-DMA as expected last week. As I write this Monday morning, they are bouncing hard.

However, this doesn’t mean we’re out of the woods by any means. The technical damage from last week’s sell offs was significant. We’ve broken below support (green line). And the bulls have failed to mount any significant energy to get stocks back into an uptrend.


What does this mean?

That we’re likely to see more chopping/sideways action for some time. The S&P 500 has had two such periods since the March bottom. I’ve highlighted them in blue rectangles in the chart below.


In terms of price, I wouldn’t expect stocks to break down a lot lower than where they are… but similarly, I wouldn’t expect us to see a sustained rally either. Instead, we’re like to see a lot of ups and downs for the next few weeks into October.

Best Regards,

Graham Summers
Editor, Money & Crisis

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Graham Summers

Editor Graham Summers has spent the last 15 years building a reputation as one of the most sought after and highly respected investment strategists on the planet. His work has been read and quoted by former Presidential advisors, award-winning institutional analysts, U.S. Senators, and more. He’s one of the few analysts on the planet to...

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