This looks like a double top in the S&P 500 and now you have to ask if we will go down and test the August low or consolidate here. The chipmakers certainly aren’t sending a great signal with NVDA down to $102.
On the day:
S&P 500 -1.7%Nasdaq Comp -2.5%DJIA -1.0%Russell 2000 -1.7%Toronto TSX Comp -0.8%
On the week:
S&P 500 -4.2%Nasdaq Comp -5.8%DJIA -2.9%Russell 2000 -5.4%Toronto TSX Comp -2.3%
This article was written by Adam Button at www.forexlive.com.
