August 2, 2023

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

U.S. Credit Downgraded

Please click here for a chart S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

• The chart shows that the stock market is consolidating in no man’s land.
• The chart shows that the stock market is very stretched way above the 200 day moving average.
• The RSI pattern shown on the chart indicates that the stock market can go either way.
• The Arora Report had previously shared with you in advance that Fitch was warning it might downgrade the U.S.