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The market comeback is missing some mojo, according to the charts

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Markets,S&P 500 Index,Invesco S&P 500 Eql Wght ETF

David Keller breaks down the internal metrics on the S&P 500.

The Late-July, early August sell-off for the S & P 500 represented the third such pullback for the benchmark in the last 12 months. Those two previous drawdowns, in April 2024 and September 2023, had very similar technical characteristics to what we've observed over the last two months. But, sustained low momentum readings this month suggest that investors may be in for a very different outcome in September.

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