SPX appears to have turned back at 2046.10 (above the 50-day Moving Average) where Micro Wave v equals a near-Fibonacci 63.35% of Micro Wave i. The SPX sell signal still stands.

Good luck and good trading!

The NYSE Hi-Lo Index has crept back to neutral from a sell signal, but doesn’t appear hard to remedy. The sell signal may come as early as tomorrow’s open. Unlike last week’s Hi-Lo peak at 340.00, this doesn’t appear to be threatening at all.

VIX’s deep retracement did not threaten the 50-day Moving Average at 17.14 and remained on a sell signal.

USO met its estimated target of 20.00 and maxed out at 20.29 this afternoon. This is the equivalent of peaking at 54.22 in WTIC. The bounce is over and the decline resumes in WTIC/USO.

GLD has not yet appreciably rallied from its low today. However it needs an Ending Diagonal Wave (c) of Minute Wave [v] to complete its mission. The hourly Cycle Top is at 126.75 and may be an appropriate target for GLD.

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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