SPX sits on the knife’s edge. There’s no new high, but no decline to speak of, yet. Anything may happen, including an overnight bust. However, I cannot make any recommendations without more substantiation.

By the way, SPX did “close the gap” at 2400.67, taking out the shorts who jumped in beneath the trendline.

VIX closed its gap, as indicated this morning. The retracement also appears complete. I think all the VIX longs have been taken out at this point.

This market is a pain for a lot of investors.

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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