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SPX Turns Down, XJY Ripe for a Turn

Stock-Markets / Stock Markets 2014 Dec 04, 2014 - 04:14 PM GMT

By: Anthony_Cherniawski

Stock-Markets

Having re-crossed the trendline of its Ending Diagonal, SPX appears to be headed for the Orthodox Broadening Top at 2060.00. Short-term support at 2058.93 is not very much lower. I expect to see these supports to be taken out quickly.

The NYSE Hi-Lo is back below the 50-day Moving Average, sparking the aggressive sell signal there. The VIX is emerging from its bottom. No signal there, yet.


XJY appears to have made its final thrust lower after the open, completing a 9-wave (impulsive) decline. No turn yet, but it is ripe.

Regards,

Tony

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