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Technical Assessment: Bearish in the Intermediate-Term

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Chubb Limited (CB) Stock Forecasts

AllTechnical Analysis

Argus•October 26, 2023

Intermediate Term

Long Term

Summary

The bad stock and bond market days continue to pile up and we are reducing our intermediate-term technical assessment to bearish. On Wednesday, the S&P 500 (SPX) lost 1.4%, the Nasdaq and the Nasdaq 100 (QQQ) dropped 2.4%, and both the S&P MidCap 400 (MDY) and the Russell 2000 (IWM) fell 1.5%. The indices all made new closing pullback lows and the IWM is testing the bottom of a range that goes back to April 2022 and is 31% from its November 2021 all-time high.

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