Stock Market Doesn't Look Right...
Stock-Markets / Stock Markets 2016 Dec 20, 2016 - 07:54 AM GMTSPX emerged under the trendline again, after another rally attempt. The reason I am discussing this is that the next three days in a row have the potential for a large decline. No promises, just the potential. Technically we should be under the lower channel trendline to get a confirmed sell signal. The problem is, the potential for a panic decline right off the top is very high…and this may be the first time in market history for this to happen.
You have been warned.
VIX has been slammed again…for precious little results in the SPX. The setup stinks, I’ll be the first to admit. The VIX ETFs have made brand new lows, well beyond the turn for VIX on December 8. There seems to be a concerted effort to keep the market calm, with the VIX being the main driver.
Cyclically, the VIX should be showing strength this week.
The Hi-lo remains on an aggressive sell, with intraday new lows, but closing at or near the resistance areas. It is still on an aggressive sell.
The Hi-Lo has a Pi date on Wednesday. This tells me there may be a surprise in stor for us in the next couple of days.
Regards,
Tony
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