CRX continues to show weakness today
CRX weekly.
Meanwhile, VIX is at the breakout level...
VIX weekly
Bears need to see a closing above the 10MA.
The VIX has not had a weekly close above the 10MA since last November, so, if it can just about hold this level, that would be somewhat bearish for next week.
*again, note the MACD cycle, still inexorably climbing back, + cycle in a few weeks, at current trend.
--
60 min index cycles remain very low, and thus, the risk is on a short term upside retracement...
SP 60min
Certainly not a disaster for the bulls, but they would like to hold this level! A move into the low 1380s would be a problem.
More later!
CRX weekly.
Meanwhile, VIX is at the breakout level...
VIX weekly
Bears need to see a closing above the 10MA.
The VIX has not had a weekly close above the 10MA since last November, so, if it can just about hold this level, that would be somewhat bearish for next week.
*again, note the MACD cycle, still inexorably climbing back, + cycle in a few weeks, at current trend.
--
60 min index cycles remain very low, and thus, the risk is on a short term upside retracement...
SP 60min
Certainly not a disaster for the bulls, but they would like to hold this level! A move into the low 1380s would be a problem.
More later!
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