SPX has made a 5-wave impulse from the top and may be correcting up to 2048.00 as I write. The Orthodox Broadening Top trendline is at that level or a bit higher. An aggressive sell signal may be generated as SPX crosses beneath the trading channel trendline at 2040.00.

VIX ix on a SPX aggressive sell signal at this time and has broken above its prior high. It must break above its 50-day Moving Average to confirm the signal.

The NYSE Hi-Lo index opened beneath its mid-Cycle support/resistance at 72.02 and must close beneath that level to afford an aggressive sell signal. A cross beneath its 50-day Moving Average at -23.02 will confirm the sell signal.

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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