SPX week, resistance from very old trendline matches today's reversal
SPX - first down day in a long time..reversal or holds in trendline?
SPY - below 30ema...should go lower
XLF - fell hard...should go lower...maybe a bounce because sold off so hard today
UUP - dollar strong was a very bearish sign today...
JJC - copper showed the bear's hand yesterday
VIX - able to confirm 2x bottom and should be able to go higher
NYMO - confirmed reversal today...now we wonder if it will fall down as fast as it went up
ETFs - safety best, and momentum worse...bearish
- feeling pretty bearish from looking at so many charts
- i just always feel weird when so many signals so bearishness
- the trendline should not be able to hold as support but always tough to believe that market will quietly go lower without a nice fight as we went up so strong lately
- dollar will be key imo
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