FYI: Below is an updated look at the S&P 500's trading range chart over the last year. After just barely making a new 52-week high in April, it has been all downhill since, with the index currently trading in extreme oversold territory at two standard deviations below its 50-day moving average. Yesterday's declines caused more technical damage when the index broke below its lows from a few weeks ago. Right now the bears have control and the onus is on the bulls to break the short-term downtrend that's in place.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/sp-500-trading-range-chart-and-sector-internals
