Advertisement
From the Market Ear:
Room to run
SPX continues to trade inside the short-term trend channel that has been in place since late May. RSI is getting rather overbought, but overbought levels tend to stay overbought for longer than most think possible. Note the upper part of the channel is still higher.
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.