Hammers74Mi @Hammers74Mi: "Dear Colleagues, it is necessary..."

Italy

Dear Colleagues, it is necessary to take stock of the situation because we have rarely had such a busy August. We had the $VXX at almost Covid levels and then returned violently. This movement should not worry us because it was too violent and as then there could be a new recovery. $SPX500 has already reabsorbed the breach of an important support with high volumes. This week I could expect a consolidation and then resume towards 5600. It must be noted that since the last high $SPX500 is no longer supported by the initial strength. So we have to see whether the index will be supported by new sectors in the coming weeks. At the moment we don't have a sector that stands out compared to the others: $XLK is the one that has suffered the most from the decline because the one that until now had supported the index the most has disappeared; $XLC has held up best; to keep on the watchlist, to then see how the $XLV , $XLF , $XLU and $XLRE sectors will behave in the near future. On the commodity front, $DJP rose supported exclusively by $USO with $GLD still strong. $TLT bonds had a bullish movement following the panic situation that saw investors switch from stocks to bonds. However, I still remain positive because in the medium term $VTI remains long, inflationary expectations are falling further and we still have $IWF outperforming $IWD which indicates an expansionary phase.