The NAAIM Exposure Index dropped to 76.85 while Investment Managers adjusted positions to a range close to August 2, 2023. There are indications that the S&P500 is in the process of moving out of a rising wedge, as discussed on July 30, 2025. It is expected to continue moving lower. Big block selling in tech stocks, tariff uncertainty and a Fed Funds target rate of 4.5% could lead to a short term market decline.
Note that this information is for educational purposes only and not a recommendation.
