This is Capital Essence’s CEM News – Market Outlook (the technical analysis of financial markets) for August 3, 2012.

…our “U.S. Market ETF Trading Map” rates the S&P as a Hold. As expected, the S&P moved down to test support at the lower edge of the pink band after late July rally ran into resistance at the lower edge of the red band, or extreme overbought zone. Money Flow measure had trended lower from below the zero line, indicating an increase in selling pressure. This is bearish and suggested that…

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