SPX Breaks a Trifecta of Supports
Stock-Markets / Stock Markets 2015 Dec 17, 2015 - 05:03 PM GMTSPX has declined beneath its 200-day at 2062.12, its 50-day at 2061.90 and its mid-Cycle support at 2060.98. In case you have been stopped out, this is a confirmed sell signal. We may see a very fast, deep decline, so stay on the alert and stay short.
VIX has also emerged from its Bullish Flag formation and is on a confirmed buy.
The NYSE Hi-Lo Index is also on a confirmed buy, after challenging the highs this morning.
Gold declined to a low of 1046.90, beneath the Cycle Bottom at 1052.17. This is a short signal as well. We are witness to a massive deflationary decline with gold as the poster child.
Regards,
Tony
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