Stock Market Retracements Appear to be Nearing Completion :: The …

Stock Market Retracements Appear to be Nearing Completion :: The …

Stock Market Retracements Appear to be Nearing Completion



Stock Markets 2015May 27, 2015 – 04:44 PM GMT

By: Anthony_Cherniawski

SPX has overshot its 2117.42 target but seems to be wrapping up its retracement under the 61.8% retracement level. Not only is this good positioning for a short position, but it appears that it will be triggering its small Orthodox Broadening Top. The target for this formation may be as low as 1623.00. In any event, this appears to be fertile ground for a Flash Crash.

VIX is challenging its mid-Cycle support at 13.30, also a little deeper than I had expected. However, it appears ripe for a reversal without having filled the gap left behind on Monday morning.

The Hi-Lo Index retraced a small portion of its decline, but remained on the aggressive sell signal for the moment. It, too, may venture lower later today.

YNX has tested its Head & Shoulders neckline. Although not overbought, it may have at least relieved the oversold condition enough to resume its Wave [iii] decline.



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Stock Market Retracements Appear to be Nearing Completion :: The …

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