Stocks bounce back to lower highs again
Aug 4, 2021
All the major stock indexes rebounded hard on Tuesday, though they’re also currently making lower highs. If they confirm lower highs and make a lower low, that will turn them into official downtrends. The extra volatility could be an indication that the trend is shifting.
S&P 500
SPY (standard ETF) tested neutral again but bounced strongly back up 0.81% and now remains positive above $437.85.
SH (inverse ETF) tested neutral but then turned down and dropped 0.86%. It’s now negative below $15.
Gold was once again flat, but gold miners drove higher.
Gold
GLD (standard ETF) slipped 0.07% but remains just above neutral. It would stay positive above $169.45.
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