...unless the VIX aborts this pattern within the next few days (by moving sideways or lower), then the market will start to increase its risk and fear levels
Confirming Strength:
-SPX 500 1st. July_BUY - Condition_at danger level
-SPX 500_C-RSI 30 +1.2
-Long Term Trending Fed- /Foreign net- Liquidity Inflows_'downtick' in mid-expansion
-Institutional selling action_down trend challenged today or tomorrow
-Short term liquidity trend: -NOT AVAILABLE-
-New Lows: 30 > 28 danger zone < panic zone 50
-NYSE_(= hft-zone)_C-RSI 30 +1.40_ NYA-Momentum -NOT AVAILABLE-
-Leadership stock/Broad market stock ratio: +0.62 bullish
Confirming Weakness:
-VIX 18.39 > 15.23 support < 20 stress level_long-term resistance 24.65_D/Vol 'uptick'
Confirming Weakness:
-VIX 18.39 > 15.23 support < 20 stress level_long-term resistance 24.65_D/Vol 'uptick'
-New Highs Trending Indicator: 79 < 180 minimum target
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Stocktiming.com recommend:
Traders: negative to mixed intraday bias_over-extended markets
Conservative: remain in Cash until Over-extension resolved_ despite 1st. July Buy Condition
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Today's Session:
hedged *1378
...the index needs to recover to a Close > *1320 at this stage to restore bullish confidence
...so far the market bounced off *1299_*1310 key support nicely with the index currently in positive terrain above *1320 - needs a Cose above *1320 to improve the negative tone in the market - above *1320, follow through buying is necessary to push the index through *1331 to challenge the June 1 High *1345_the July 8 Peak *1356 - keeping the push to the May Peak *1371_the *1400 Psych Barrier alive
Kind Regards
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