Reuters
Slumping U.S. stock market technical indicators flash warning sign
Indicators that investors use to gauge the health of the U.S. stock market have taken a turn for the worse, fueling worries that the benchmark index may revisit its mid-June bear market low. The S&P 500 is down 7% since mid-August following a sharp summer rally, battered by expectations that the Federal Reserve will raise rates higher than previously anticipated in its fight to bring down consumer prices from their 40-year highs. “I had to downgrade the market technically, given how severe the decline has been over the last three weeks,” said John Kolovos, chief technical strategist at Macro Risk Advisors.
