In this first show of the month, Julius evaluates the monthly charts for asset classes and sectors. Despite the weak ending of the month September, three sectors managed to squeeze out a new all-time-high. However, none of them was able to hold on to these record levels as for the first time since many months there was not a single sector closing at a new closing high.
The bond market has put in a new lower high on the monthly chart and looks poised to head lower. The Industrials sector broke below its previous low on the monthly chart which signals the start of a downtrend on this time frame. And the S&P 500 recorded a bearish engulfing candle on the monthly chart which usually does not bode well for the near future.
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