22 Aug ’22, 09:17 Central Euro Time:

The Euro, Gold, Copper and the Spoo are all trading at present below their respective Neutral Zones for today; no BEGOS Market is above same, and volatility is mostly light. Despite the S&P 500’s -1.3% drop on Friday, the Index nonetheless is still tagged as “textbook overbought” through 24 consecutive trading days. Specific to the Spoo, there is near-term structural support down through much of the 4100s. Too, we’ve yet to see any materially negative sentiment via the MoneyFlow; however if the counter-trend rally to 4327.50 has been completed, the 3600-3200 support zone remains more broadly in the wings. By Market Trends, the Spoo’s “BabyBlues” appear poised to break below their +80% axis by Tuesday’s settle, a suggestion for lower price levels still to follow.

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