SPX and OIL update and a quick look at other markets
SPX Wyckoff pattern may have had one more overthrow to finish yesterday, we'll see. OIL looks to be leading to the downside and I think it will surprise many this year. The hedge trades are getting a bid but nothing substantial just yet. Equity Put call is at very low levels.....
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equity put/call - ycharts.com/indicato...quity_put_call_ratio
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they broke down after a pop this morning. I would say that is a false breakout and any rally should be sold.
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bounce into close is probable, but I still think it's a sell.
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looks bearish for today, although they may spike higher with numbers at 830. my guess is lower today, bounce tomorrow.
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possible one more move up today to reset hourly rsi
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could reach as high as 4210 for the C wave
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target area reached
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at heavy resistance, if it gets above the count is invalid, but I think here is an objective short -
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vix down more than 10 percent intraday, to me this looks like a trap to get bears out, we'll see tomorrow.....
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good morning, we got a higher high and more divergence all mid time frames are now reset higher
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spx 15 minute showing one more high possible. rsi could go higher. 4270 very close...
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daily resistance zone reached, may or may not get to 4300.
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4300 coming up. hourly rsi is almost never this high
