-Institutional selling action sideways trading range with a up tick_index at inflection point
-SPX 500 in Up-condition_ C-RSI 30 +1.67 strength
-New Lows: 26 - at danger 26-zone - below panic zone 50 (+)
-Long Term Trending Fed- and Foreign net-Liquidity Inflows 'down tick' in mid expansion territory
-Leadership stock ratio: -0.215 bearish advantage
-VIX 21.13 (current market stress level: 20) _ D/Vol sideways _ 26 New Lows
Confirming weakness:
extreme caution - index close to 'sell' condition
Today's Session:
...the SPX crashed past the January 31 Low *1277 inflection point to intraday *1261 and appears to have found some support for now. Up-ticks off *1261 are unconvincing and risks for more downside is high
...below the January14 Low, chances are, the market will want to test the December 27 Low *1255 before a possible bottom may be in place
...a successful defense of *1255 support will provide the foundation for another rally that targets upper channel resistance current *1376 in the dly. 6-mth. trading setup_ potential to reach out to hit a *1408 measured objective
Kind Regards
-C-RSI 9 below C-RSI 30 _C-RSI 4 below C-RSI9
-institutions in low level distribution
-hedge funds selling
Today's Session:
...the SPX crashed past the January 31 Low *1277 inflection point to intraday *1261 and appears to have found some support for now. Up-ticks off *1261 are unconvincing and risks for more downside is high
...below the January14 Low, chances are, the market will want to test the December 27 Low *1255 before a possible bottom may be in place
...a successful defense of *1255 support will provide the foundation for another rally that targets upper channel resistance current *1376 in the dly. 6-mth. trading setup_ potential to reach out to hit a *1408 measured objective
Kind Regards
No comments:
Post a Comment