While the S&P 500 continues to consolidate within a constructive long-term uptrend, technology leadership has deteriorated sharply.The Nasdaq 100 has entered a more meaningful correction, China's technical outlook has weakened further, and markets are becoming increasingly selective. This report identifies the key support and resistance levels that will determine whether recent weakness proves temporary or marks the beginning of a broader trend reversal.
Announcement: Due to the holidays, the next edition will be published on Thursday August 27, 2026.
The majority of stock market indices continue to consolidate within their dominant uptrends. At the same time, a growing number of technical divergences, rising complacency and weakening semiconductors suggest that downside risks are gradually increasing beneath the surface.
Beneath the US market's recent consolidation, leadership has shifted away from mega-cap technology towards a broader group of stocks. We assess whether this rotation supports another bull leg higher, or if it is the calm before a larger correction commences..
The Japanese stock index keeps hitting record highs but the risk of a correction is high and increasing...
What’s more in this report:
Can the S&P 500 reach 8000 in the months ahead? Kospi: A very significant ‘blow-off’ top seems to be coming (soon). What's next? US and German 10-year yield: The waiting game continues. Crude oil: WTI seems poised for an interim rebound rally, but we foresee a continuation of the larger degree bear trend thereafter.
