Weekly S&P500 ChartStorm - 11 August 2024

This week: checking in on technicals + the where-to from here, volatility signals, sentiment, positioning and allocations, cash, water, and the boogeyman inventory...

Welcome to the latest Weekly S&P500 #ChartStorm!

Learnings and conclusions from this week’s charts:

• Stocks rebounded from a key support level.

• Overhead resistance now looms.

• Sentiment has reset some, but positioning remains all-in.

• Real rates highlight real opportunity cost and risk.

• The “boogeyman inventory” helps frame probabilities (and upside).

Overall, th…