SPX is going through with the reversal as mentioned yesterday. It is difficult to say whether there will be a bounce at the 50-day Moving Average at 2106.02. The deterioration of the situation in Greece may not be able to give us the “good news” needed to spark a bounce this time.

VIX is back above its 50-day Moving Average at 13.57, restoring its aggressive sell signal.

The Hi-Lo index has not re-crossed its 50-day Moving Average and may not be expected to until Monday.

TNX is stepping through its Model supports and is now hesitating just above Intermediate-term support at 22.61.

Monday may come filled with surprises as the supports are broken for the last time.

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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