Market is showing some weakness. This was expected (but expected last week). Still it is a drip, drip, drip type of weakness. Seems earnings have been mixed and no longer pushing the market higher (OK, except APPL). Could we have an event that produces a more vigorous sell off. We could and I expect at some point we will.
Today appears it will follow the pattern so far for the week. The VIX fell over 50% from its high Nov 1. so 3 consecutive down days should signal a trend change according to the rules I use. Use SPX to judge this (it would be better if all three fall, but so far we are getting mixed closes).
Here is the SPX:
GL
No comments:
Post a Comment