SPX has breached middle support and closed under on Friday.
Expect lower prices. Higher volatility will be seen during the re-election period. Many of the moves will be very sharp.
2 hour Chart
VIX was up in August and is now up again in September on Monthly chart. Two months in a row!
The perfect storm is brewing and it is coming this month. SPX has failed at 3,350 and the 50 dma has crumbled.
Hurricanes and wildfires are ravaging both coasts with another hurricane due next week. Conditions are ripe for volatility.
Kodak was awarded a major government loan to produce ingredients for pharmaceuticals, however, the company is under investigation currently. As a result the shares have been in turmoil.
The stock may have reached a better balance. The selling looks flat. May see some higher highs and lows next.