ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION
August 12, 2023 | Tech Talk for Saturday August 12th 2023
Don Vialoux
Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at www.timingthemarket.ca. Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).
The Bottom Line
Now is the time for intermediate swing traders to become patient!
Led by the “Magnificent Seven” big cap technology stocks, U.S. equity indices came under short term trading profit taking pressures last week. Intermediate term and long term momentum data available at the end of this report shows that the S&P 500 Index is overbought and has started to trend down.
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Don Vialoux August 12th, 2023
Posted In: Tech Talk
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