SPX Put in a Bearish Daily Candle Today 3-25-10
SPX (S & P 500, http://bit.ly/i0nsT) put in a bearish daily candle today 3-25-10, dark (close below the open) with a spike, see http://bit.ly/i0nsT.
The SPX (S & P 500, http://bit.ly/i0nsT) Minor Intermediate Term Upcycle since 2-5-10 (looks like an important final Wave 5 move), and, possibly also the SPX (S & P 500,http://bit.ly/i0nsT) Major Upcycle since 3-6-09, appears to have peaked. SPX closed very near the session cycle low today, which suggests that more downside is likely early tomorrow.
Labels: Business, Finance, Investing, Markets, Money, NDX, RUT, SPX, Trading, WMT, XAU, XOI, XOM
posted by Joe Ferrazzano at
1:10 PM
3 Comments:
SPX's (S & P 500, http://bit.ly/i0nsT) volume spiked dramatically today 3-25-10, to 4.766 billion shares vs 3.820 billion shares yesterday/on 3-24 vs the 60 day EMA (Exponential Moving Average) at 3.913 billion shares, see http://bit.ly/i0nsT, which jives with an important cycle high possibly occurring today, since dramatic volume spikes tend to confirm/coincide closely with important price spikes/inverse spikes (cycle highs/lows).
By
Joe Ferrazzano, at 3:05 PM
Another bearish SPX (S & P 500, http://bit.ly/i0nsT) candle today 3-26-10, black (close below the open) with a bearish spike, see http://bit.ly/i0nsT.
By
Joe Ferrazzano, at 1:17 PM
The intraday SPX Wall of Worry (SPX vs VIX) experienced a very bearish late session collapse today 3-26-10, see http://bit.ly/8Ge3GL, which is a very bearish indication, because, it's a very sharp rise in complacency that points to early significant and potentially severe SPX (S & P 500, http://bit.ly/i0nsT) weakness on Monday.
Also, market breadth was mixed today, see http://finance.yahoo.com/advances, which is a bearish indication for early Monday.
By
Joe Ferrazzano, at 1:39 PM
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