The bottom of the U.S. stock market is just around the corner. Although the market has been hitting new highs, current market participation is not high. The S&P Equal Weight Index (RSP), which represents participation, has fallen for seven consecutive trading days. Additionally, the unique historical sentiment indicator from Longbridge in the market module has also found that recently, more stocks have declined than risen. This indicator is approaching the level seen at the end of October this year. In a pessimistic scenario, this Friday could mark the temporary low for the U.S. stock market, while in an optimistic scenario, the market could take off after the CPI data is released today at 21:30.
With the election year coinciding with the Christmas rally, there will be another wave of market activity in the last month of 2024.
$Invesco S&P 500 Eq Wgt ETF(RSP.US)$SPDR S&P 500(SPY.US)$Invesco QQQ Trust(QQQ.US)
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