AllTechnical Analysis
logoArgusSeptember 18, 2020

Technical Assessment: Neutral in the Intermediate-Term

Intermediate Term
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Long Term
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Summary

We are lowering out intermediate-term technical outlook to neutral from bullish. This decision is based on several key developments over the past couple of weeks, combined with the fact that the price weakness has not done enough to alleviate excessive optimism. The major indices have all broken intermediate-term trendline support off their secondary lows since April. The Nasdaq and Nasdaq 100 (QQQ) closed below their 50-day average on Thursday for the first time since late February.

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