Many Airlines look to be bottoming technically by next week

US Equity indices have now weakened for the third straight session as Treasury yields have pressed higher;  At present, yields are nearing a “Do-or-Die” area of resistance, while Stocks are nearing a similar level of support.  Breakouts in yields, however, could postpone a stock market low.

Given Technology’s resilience in September, along with a pick-up in bearish sentiment, it looks right to expect Equities can bottom into the next short-term cycle period which starts on 9/9 into 9/13.  Thus, a window for a market bottom might materialize into next week.

Overall, despite some minor weakness for SPX and QQQ since late July, US indices have largely successfully managed to absorb one of the largest periods of Treasury issuance in this short of a period in years. 

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