You can imagine the epic battle going on at the 50-day moving average. This appears to be where Wall Street is taking its stand against the bears.
Yesterday’s open did not let up until the 50-day was crossed. Today’s decline to the 50-day was met with HFT buying programs again.
Folks, this is a perfect setup for a crash to begin. The bulls are wearying. We may see them “give up the ghost” after 3:00 pm when the institutional investors come back to place their orders.
They may be “sells.” There is a perfect reversal pattern in place.
The VIX finally touched its lower trendline and has made a small reversal pattern above hourly cycle bottom support. It must rise above 24.00 to break out of its diagonal pattern and confirm the reversal.
Yesterday’s open did not let up until the 50-day was crossed. Today’s decline to the 50-day was met with HFT buying programs again.
Folks, this is a perfect setup for a crash to begin. The bulls are wearying. We may see them “give up the ghost” after 3:00 pm when the institutional investors come back to place their orders.
They may be “sells.” There is a perfect reversal pattern in place.
The VIX finally touched its lower trendline and has made a small reversal pattern above hourly cycle bottom support. It must rise above 24.00 to break out of its diagonal pattern and confirm the reversal.
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