<div id="readability-page-1"><div><div><p>The SPX fell for the third consecutive day, its longest losing streak since late August, leaving the index down 89bp WTD, <strong>its worst loss in 8 weeks if the weekly result stands</strong>. This, according to JPMorgan's Market Intel team, appears to be a technically-driven move, potentially a combination of negative seasonality and rebalancing more so than valuation.</p><p><em>Here is JPM's Market Intel take on Thursday's solid economic data.</em></p><blockquote></blockquote></div></div></div>

<p>The SPX fell for the third consecutive day, its longest losing streak since late August, leaving the index down 89bp WTD, its worst loss in 8 weeks if the weekly result stands. This, according to JPMorgan's Market Intel team, appears to be a technically-driven move, potentially a combination of negative seasonality and rebalancing more so than valuation.Here is JPM's Market Intel take on Thursday's solid economic data.</p>

JPM Trading Desk: "Pullback May Last Few More Days... And Then GAMETIME: We See SPX 7,000 In November"