Stock Market Waiting for Clarity
Stock-Markets / Stock Markets 2015 May 05, 2015 - 10:06 AM GMTSPX rallied beyond my maximum wave structure for a retracement Wave c. It may rally once more to complete a larger Wave c to make a nominal new high. That seems to be the most likely course of action, since the decline is not impulsive.
ZeroHedge reports that there is a record divergence between the price of SPX and the money flows, which are exiting the index. Which begs the question,,,who is buying?
TNX simply cannot go any higher without breaking out above the very bullish Descending Broadening Wedge. Yet in the article above, ZeroHedge claims that money flows are going into bonds.
There doesn’t seem to be much liquidity in the Corporate Bond market, either.
The NYSE Hi-Lo index is closing beneath its 50-day Moving Average, so it remains on an aggressive sell signal.
VIX made a new low, but made a surprising comeback. It must rise above its 50-day Moving Average at 13.76 to be on an aggressive sell.
It appears that when this thing blows, it will be big.
Regards,
Tony
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