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.....

Kommentar:

equity put/call - ycharts.com/indicato...quity_put_call_ratio

Kommentar:

they broke down after a pop this morning. I would say that is a false breakout and any rally should be sold.

Kommentar:

bounce into close is probable, but I still think it's a sell.

Kommentar:

looks bearish for today, although they may spike higher with numbers at 830. my guess is lower today, bounce tomorrow.

Kommentar:

possible one more move up today to reset hourly rsi

Kommentar:

could reach as high as 4210 for the C wave

Kommentar:

target area reached

Kommentar:

at heavy resistance, if it gets above the count is invalid, but I think here is an objective short -

Kommentar:

vix down more than 10 percent intraday, to me this looks like a trap to get bears out, we'll see tomorrow.....

Kommentar:

good morning, we got a higher high and more divergence all mid time frames are now reset higher

Kommentar:

spx 15 minute showing one more high possible. rsi could go higher. 4270 very close...

Kommentar:

daily resistance zone reached, may or may not get to 4300.

Kommentar:

4300 coming up. hourly rsi is almost never this high