SPX is still on an aggressive sell signal. It has crossed the first support at 2077.76, but has several more to go. The Aggressive sell becomes a confirmed sell beneath the 4.5-year trendline or the 50-day Moving Average, now up to 2049.40.

The NYSE Hi-Lo, which may confirm the sell signal, is still not registering its signal yet. The VIX, currently at 13.80, need to cross above its 50-day Moving Average at 15.19 to obtain confirmation.

TNX remains on its sell signal. The corrective pattern appears to be very lopsided and irregular…not to say it isn’t valid. It just needs a breakdown beneath its prior low to confirm it.

I would be cautious here until some confirmations are validated. I am still expecting a potential flash crash. The question is, when does it cut loose?

USD has hit an intraday low of 93.74 and still appears to be declining. Confirmation that the decline has further to go is to break down beneath the Cycle Bottom at 93.04.

Regards,

Tony

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