Weekend Market Review, 8.18.19: A Mixed Bag
As I sit here writing this, looking through the mix of daily and weekly charts, I see a lot of indecision. On the one hand, the weekly equity charts (that show the longer-term trends in the market) are showing much weakness, most below their 50 RSI momentum midpoints. The fixed income and ratio indicators are furthering the case of deflation with risk-off trades breaking out against the risk-on trades. On the other hand, the daily charts bounced nicely to end the week with multiple positive divergences and a strong follow-through on Monday could repair a lot of the recent damage. Overall, the bearish case is currently stronger over the next few months due to the breakdowns on the longer-term charts and significant negative divergences; the bulls need make a comeback very soon to change the narrative.
Below is a link to both the public and premium market reviews for the week. Hope you enjoy!