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Stock Market Reversal May Have Begun

Stock-Markets / Stock Markets 2015 Mar 24, 2015 - 11:05 AM GMT

By: Anthony_Cherniawski

Stock-Markets

SPX declined just ticks below its Broadening Wedge trendline. This would be considered the official crash trigger, although most would wait until it crossed beneath the 50-day Moving Average at 2064.31. Considering that the Ending Diagonal already projects a decline beneath that level, it would not be out of the question to take an aggressive short position.


VIX has a way to go to be back on a SPX sell signal…I would expect to see VIX back above 15.21 to 16.71 before it issues a sell signal.

The NYSE Hi-Lo index is another indicator that may take another day or two to get back in the sell signal.

Gold may continue to rally to 1200.00, but I wouldn’t give it more than that right now. A decline beneath 1175.81 could put it back on a sell signal.

Crude broke above its previous high and may rally until the end of the month. It has support at 44.82, so as long as it stays above that level, it may continue its counter-trend rally.

I may be called away for a family emergency that is developing, so my schedule tomorrow appears to be at risk. Please be aware that I may not be as timely in my reports as you have become used to.

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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