In late August/early September the major indices were making medium-term tops.
Obstacles that lie ahead, but this market never seems to embrace a negative narrative for long.
Indices advanced on negative breadth.
They are the charts of the S&P 500 and U.S. dollar, and their patterns could influence most stocks, commodities and currencies.
The result has been a technical breakdown in risk-asset pricing -- and the main culprit is without a doubt, the inability of Congress to compromise.
The pockets of strong movement are very narrow right now.
Index charts remain largely problematic.
There is only one fact that truly needs to be understood. The virus is still in charge until it is not.
Market breadth weakens.
Plus, we take a look at the movement in the S&P 500 Index to see where it may be heading.