SPX has now violated the neckline. This gives us our sell signal in SPX. Confirmation may come with the violation of the Broadening Wedge trendline at 2345.00.

NDX may have given an aggressive sell signal by crossing its trendline. I would feel more comfortable seeing it decline beneath the Wave 4 low at 5336.08, but that is a my own preference.

VIX has also given us an aggressive buy signal. It may be confirmed above the inverted Head & Shoulders neckline at 12.75.

The Hi-Lo is still above its mid-Cycle support at 121.76. There is a rising probability that it may change its signal by the end of the day.

Good luck and good trading!

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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