SPY - broke down...oversold
VIX - breakout and finding a bottom
ETFs - material, energy, financials laggards...bad for bulls
HEAT - pharma spared
Analysis: things finally broke out of the range today...its down and so i call it stage 4...tough thing is knowing if it can go much lower than here....it will be the first test of 30ema on the daily chart and after such an oversold fall intraday, i feel we have a very good chance to go a lil bit higher tomorrow before going back lower. stubborn bulls just don't want to let go fully just yet...
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