Stock Market SPX Triggers Sell Signal :: The Market Oracle …

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Stock Market SPX Triggers Sell Signal

Stock Markets 2015Aug 03, 2015 – 05:43 PM GMT

SPX has now crossed below both the 50-day Moving Average and the 2-hour mid-Cycle support at 2097.72. SPX is back on an aggressive sell that becomes a confirmed sell below the 200-day Moving Average at 2069.43.

TYX/TNX both appear to have finished their declines for the time being, or nearly so.

ZeroHedge reports, “The carnage is contagious. The S&P 500 just broke down below its 50- and 100-day moving averages unable to hold the ubiquitous pre-EU-close ramp highs. Treasury yields have plunged since the weak spending and ISM data with the 5Y breaking below its 200-day moving average and 30Y yields testing 3-month lows…”

There is a potential Head & Shoulders formation forming, once the reversal is made. First, it appears that a retracement back to the 50-day Moving Average at 30.44 may be necessary.

VIX is moving out of its Friday low. It appears capable of exceeding its 50-day Moving Average at 14.24 for an SPX sell signal today.

The Hi-Lo is back on its sell signal, having exceeded its 50-day Moving Average at -69.10.

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.

Anthony M. Cherniawski

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