Stock market rebound is hindered, and technical indicators show a rare downward trend.😯

Stock markets tried to stage yet another 'goldilocks rally', as the jobs number was seen to be lukewarm enough to keep the Fed from any further raises. But markets saw an abrupt selling after 1pm NYT mark, with the SPX dropping a swift 1.5% on no news, a technically bearish price action that we haven't really observed since the rally began in March. After post Q2 earnings, Apple has completely broken YTD trendline to the downside, equity VIX has also spiked from its 4-month slumber. Now most market participants are bullish and long exposures are back to historic highs, might a temporary equity market peak precede a challenging fall? Time will reveal, with Wednesday's CPI potentially adding a crucial piece.

#stock #YTD #SPX #CPI #Apple