SPY - bearish
RKH - sideways MA
VIX - stage 1?
ETFs - materials and financials lead down
HEAT - RED
Analysis: Chart scans show many topping patterns especially in energy and commodities...many stocks now are broke down and are solidly in a stage 4 decline...only thing holding up really is financials and more than likely, it will follow commodies down IMO. if it breaks, watch for SPX to fall much much more...support is in place...need a big swoon of buyers to get this picture looking bullish once again..and even if it does for a little bit, a head and shoulders would just look that much more possible...looking bearish here for sure...
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