Stock Market Bounce May be Over...
Stock-Markets / Stock Markets 2018 Feb 22, 2018 - 09:59 PM GMTSPX has met its 50-day Moving Average at 2729.61 and the 61.8 Fib retracement level at 2730.00. Its high was 2731.26.
ZeroHedge comments, “Sigh...
Cash markets are open!! Buy 'em!!!”
JPM’s head quant, Marko Kolanovic now thinks it’s time to start buying.
…but he was wrong on Volocaust Monday. Will he be wrong again today?
The Cycles Model calls for a decline into the next Master Cycle low due in mid-March. In fact, it calls for possibly three “waterfall events” starting next week and ending on March 14.
Time to make sure of your short positions for the 3-week ride of your life.
VIX has recovered above its daily Cycle Top at 19.97 the day after its Master Cycle low made yesterday (257 days). This allows a probable three weeks of rally, which fits the pattern mentioned above.
THE NYSE Hi-Lo Index has stared its decline by challenging negative territory this morning. The Hi-Lo anticipates its low between March 6-9 but may not give a buy signal until the week later, especially if it meets or exceeds its Cup with Handle target.
Regards,
Tony
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