September 6, 2024

By Nigam Arora & Dr. Natasha Arora

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

Critical Waller Remarks Ahead

Please click here for a chart of 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 formed a double top inside the resistance zone and was unable to penetrate the resistance zone.  From a technical perspective, this is a negative.
• The chart shows that the stock market has fallen below the resistance zone.
• RSI on the chart shows that the stock market is oversold.