In recent weeks the S&P 500 managed to grind higher despite increasing signs of underlying weakness, as measured by the 21-day Advances – Declines Oscillator. On September 15 the S&P 500 closed at 6615 and on October 9 traded up to 6764, an increase of 2.25%. On Friday 3 weeks of gains were erased as the S&P 500 shed -2.71% after the S&P 500 closed at 6552 down -0.95% from the close of 6615 on September 15.
The market was boosted in recent weeks by a surge in Semiconductor stocks and the fervor surrounding Artificial Intelligence. Wall Street expects the FOMC to...
