...the SPX 500 market remains capped by the 3 May 2012 breakdown *1406.33 - the 14 August 2012 attempt at the 1-year trendline resistance current *1413.34 in the daily time frame motivated swift selling action
...NYSE new highs are shrinking
... the inverted VIX down side cross-over with its weighted 5-dma - in the past this pattern motivated a 4/6 day sell down
...the ratio of very strong stocks to very weak stocks is on a decline - 10.9:1_7.33:1 - range trading with no higher high
...as a result, the market appears in need of a fresh boost of energy to get out of stalling mode to charge higher past multiple resistance in the *1400_*1415_*1422 range - the SPX 500 50-dsma currently ideally situated *1357.16 just below the upside breakout level *1360/*1366 for a re-test
Kind Regards
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