S&P Shifted to Consolidation Mode

S&P shifted to consolidation mode after the late June’s recovery rally stalled at the important sentiment 2800 mark. Momentum is not favorable over the near to intermediate term, suggesting that this is not a time to be long. What the bulls want to see is S&P stabilizes and climbs above 2800. The longer the index stays below that level, the more vulnerable it is to lower prices. This is the real danger in the current market

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