– VIX made a new Cycle low on Monday, May 4, then proceeded to run through all the resistance levels before closing near the low of its reversal pattern. A close above the May 6 high may confirm a sell signal for SPX.
SPX trendless market (top) may be ending.
SPX closed the week on a high note, but did not exceed its April 27… Continue reading
– VIX made a new Cycle low on Monday, then proceeded to run through all the resistance levels before closing at an 86% retracement and a credible reversal pattern. A close above last week’s high may confirm a sell signal for SPX.
SPX fails at a second attempt at a new high.
SPX made two lower highs, the second lower than the first, while making… Continue reading
SPX makes a new closing high, reverses.
SPX made a marginal new high on Monday, then challenged its Intermediate-term support at 2073.43 but could not close beneath it. The support levels have become dangerously… Continue reading
– VIX made a new Master Cycle low on Thursday, 57 days after the initial Cycle low on February 25. It occurred in the form of a rare triple zigzag formation. Who is the deep pocketed Volatility seller?
SPX makes a new closing high.
SPX eked out a new intra-day (2120.92) and closing high (2117.69) today. The support levels have become dangerously shallow, making it… Continue reading
– VIX made a new Master Cycle low on Thursday, 50 days after the initial Cycle low on February 25. It occurred in the form of a rare triple zigzag formation. On Friday, it challenged Short-term resistance at 14.85, warning of a potential breakout above that level.
SPX declines beneath short-term support.
SPX closed the week beneath weekly Short-term support/resistance at 2084.31. The problem with… Continue reading
– VIX extended its Master Cycle low, three weeks later than the usual time. It occurred in the form of a rare triple zigzag formation. This leaves the “fear indicator” not positioned to warn of potential challenges ahead.
SPX ramps again.
SPX ramped for the sixth time above its weekly Intermediate-term support at 2068.16 since last December. This sideways motionfor the past three months has… Continue reading
– VIX challenged its weekly Intermediate-term resistance at 16.45 before closing beneath its mid-cycle support at 14.32. VIX remains on a buy signal.
SPX closed above Intermediate-term support.
SPX challenged its Short-term support/resistance at 2080.89, but declined to close above Intermediate-term support/resistance at 2062.29. Further weakness may put its Long-term support at 2014.69 in its sights. Beneath that is the lower trendline for the Broadening… Continue reading
– VIX challenged its February high at 17.19 after making a new Master Cycle low last week. Although it broke above weekly Short-term support/resistance at 15.54 and intermediate-term resistance at 16.28, it closed beneath them. VIX is back on a buy signal.
SPX declined beneath two supports.
SPX declined beneath its Short-term rsupport/resistance at 2072.89 and closed beneath Intermediate-term support/resistance at 2062.79. Further weakness may… Continue reading
– VIX reached its lowest point since the first week of December. This was done through a zigzag extension from the February 25 low. VIX goes back on a buy signal (SPX sell) above 14.29 – 14.50. The reversal may be abrupt…
SPX rallies, but no new high.
SPX rallied nearly 55 points this week, but could not close at a new high. Should it… Continue reading
– VIX challenged Intermediate-term resistance at 16.17, but did not close above it this week. A rally above Short-term resistance at 16.60 and Cycle Top resistance at 19.02 may put the VIX into high gear.
SPX loses its supports.
SPX closed beneath Short-term support at 2062.02 this week. Long-term support at 2004.13 and the Broadening Wedge trendline puts the uptrend in jeopardy. The uptrend may… Continue reading