September Wasn’t Nice To Stocks Since the tech trade (SMH) peaked earlier this year, the market demonstrated its resilience as the equal-weighted S&P 500 (RSP) and the IWM moved higher, while SMH moved lower. Nothing lasts forever, and with ample warning, the RSP and IWM peaked in August and broke down in September. The chart below shows how we’ve been tracking the degrading conditions led by a rollover in momentum (Real Motion) leading up to
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