AllTechnical Analysis
logoArgusSeptember 02, 2020

Technical Assessment: Bullish in the Intermediate-Term

Intermediate Term
Long Term

Our ongoing concerns about market sentiment and an overheated Technology sector were ignored once again in August, as Tech kept steaming ahead along with the major blue chip indices. Sector strength was not as broad as in July, with only four of the 11 S&P 500 sectors beating the benchmark. The Nasdaq 100 (QQQ) jumped 10.9%; the Nasdaq tacked on 9.6%; the S&P 500 rose 7%; the S&P 400 MidCap gained 3.5%; and the Russell 2000 added 5.5%.

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