Weekly Outlook Sep 2-6 $SPY

1 Eyl

SPY breadth is weakening on the 200, 50, and 20 D (see chart)

When the market is running low on breadth, there will be some rotation or correction. Selling expensive stocks for cheaper ones (most likely cyclical's) will cause some selling pressure on the bigger names like NVDA, AAPL etc. Expect sidways choppiness for the majority of the market.

Ichimoku still indicating bullish continuation. Q4 will be good. Target at 6000 remains.