Stock Market Fireworks at the Open
Stock-Markets / Stock Markets 2015 Nov 24, 2015 - 03:56 PM GMT
Good Morning!
Stocks are down after a Turkish F-16 downed a Russian warplane. ZeroHedge reports further, “Moments ago a big black geopolitical swan landed when newswires lit up with headlines that a Turkish F-16 shot down what was initially said to be an unidentified warplane near the Syrian border after it violated Turkey's airspace on Tuesday, a Turkish military official said, but the nationality of the downed aircraft was not immediately clear.”
Later this morning, a Russian search helicopter was downed by an anti-tank missile.
The Premarket shows that SPX is beneath its Short-term support at 2079.02, triggering an aggressive sell signal. Once it declines beneath the 200-day Moving Average at 2065.05 the sell signal is confirmed.
The VIX futures are right at 16.43, its mid-Cycle resistance and sell signal trigger.
TNX broke through its Short-term support at 22.60and is now on a confirmed sell signal. USB and UST are on confirmed buy signals.
USD is pulling back from yesterday’s high and the Euro and Yen seem to be building a base from which to rally, The Yen is the only currency that has made a clear reversal signal so far. The Yen made its low on November 18, day 252 of its Master Cycle and the Euro appears to have done so yesterday, on day 255 of its Master Cycle. The USD is due for its Master Cycle low on December 1, unless it extends.
Will we see some fireworks at the open? It appears probable.
Regards,
Tony
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