This is a critical week for the market to understand if this is a NASDAQ consolidation or a rotation from tech- momentum to value.
The money flow now suggest a rotation – but it happened before and after a sell off, tech resumed its momentum.
At the moment looks like more a consolidation even if in September probably we will still have more pain to come.
Citigroup m0del show that the sell machines are primed to attach (algo trading) at SP500 3,254 and at Nasdaq Futures of 10,843 (at the moment 9:16, 14 Sept SP Fut 3,345 and Nasdaq Fut 11,157).
A machine attack would bring SP500 to 3,000, Nasdaq 9,800. Unfortunately SP200 does not offer much support until 5,400/5,500.
This would be a temporary reset , not a change of trend. But painful.
Calendar base a bad start of September get a worse end (funny enough, almost everybody is scared of October – in reality the early days of October has the big sell off that started in September – but October ends up positive more than recovering the initial losses).
Again Calendar base, in an election year September behaves better than average.
So pay attention
investorpolitico 