U.S. CREDIT RATING DOWNGRADED – MOMO CROWD AGGRESSIVELY BUYS THE DIP
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.
August 2, 2023