September is historically the weakest time of year for the market. That does not mean it will be weak this year. Although, it is quite possible it will start that way.
Bearish divergences are showing in both the capitalized NHNL and the NHNL.
The most concerning is the bearish divergence on the rolling 52-week NHNL. If it does not reverse pretty quickly, a pull pack seems pretty likely. The last one failed to have a healthy pull back, but the couple before that worked well.
