The Hi-Lo index started off in the right place, but appears to be repeating the same dance that it has for the past month. Should the SPX turn down this afternoon, the Hi-Lo may do likewise. It will be worth paying attention to.

VIX challenged its 50-day Moving Average in a spike Wave [b] this morning. Wave [c] is likely to terminate between its present location and 13.13. This is an interesting spot, because if the Primary Dealers are net short, Wave 3 could be a barn burner.

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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