Stock Market Sell Signal is Getting Stronger
Stock-Markets / Stock Markets 2015 Apr 30, 2015 - 04:25 PM GMTSPX bounced off the 50-day Moving Average early today. Overhead resistance is now at 2100.54. Once the retest fails, the 50-day is also likely to fail. This will confirm the sell signal in the SPX. The signal is an aggressive sell here and a confirmed sell beneath 2090.72.
VIX broke above yesterday’s high as well as the 50-day Moving Average, but has pulled back to the mid-Cycle and Intermediate-term support. The aggressive sell signal from the VIX is valid, may change to confirmed after it closes above the 50-day (14.26).
The Hi-Lo index has broken beneath its previous April low and remains moribund. This appears to be a confirmed sell signal with the proviso that it remains beneath 122.00 at the close.
Regards,
Tony
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