The NYHL broke down beneath its prior low and beneath mid-Cycle support at 194.91. This gives us a tentative sell signal, since we must see whether the signal remains at the close.

VIX has also given a SPX sell signal by rallying above its 50-day moving average at 14.54 and remaining above it at the retest. This is a good signal because it passed the retest. You can wait until it breaks above Intermediate-term resistance at 15.26 for even more confirmation.

SPX just broke beneath last week’s post rally lows, putting it on an aggressive sell signal. Short-term traders may take a position against the SPX. Those longer term traders may ease into their short positions with a partial position.

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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