The VIX gave its SPX sell signal. It may drop back below 14.73, but the clincher is that it also broke out above the prior high at 15.24, even if only by a penny.

The Hi-Lo index hasn’t moved beneath its sell signal yet, but remember , it is a laggard.

SPX is quite visible beneath its Wave C trendline, suggesting that it is finished with the rally. I would really like to see it fall beneath the trendline again at 1830.00 by the end of the day. That would add confirmation that the rally is broken.

GLD has also turned the corner 4 calendar days beyond the average Cycle pivot. That is not unusual, just keeps me on my toes.

I hope you are ready for what may follow!

Regards,

Tony

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Disclaimer: The content in this article is written for educational and informational purposes only. There is no offer or recommendation to buy or sell any security and no information contained here should be interpreted or construed as investment advice. Do you own due diligence as the information in this article is the opinion of Anthony M. Cherniawski and subject to change without notice.

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