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Market rally fails again…is it going lower?

The S&P 500 is barely holding above a technical correction and it has failed multiple times at the 50 day moving average.   The rotation rally looks like it has fizzled. 

Today was characterized by indiscriminate selling.  Everything was down- Tech, Value, Precious Metals, Bitcoin…everything.

I think the market is headed lower…but I’ve thought that all summer, and have been wrong.

You can hear my latest thoughts at today’s episode of the Wealthsteading Podcast, it’s a quick listen at less than five minutes:     https://www.wealthsteading.com/320

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