Skip to content
- The market is still in bear territory under the 200 day simple moving average.
- The MACD is extremely bearish, showing a lack of momentum.
- Up days continue to be on lower volume and down days on higher volume, which shows distribution.
- A 27.80 $VIX is not bullish, it demonstrates uncertainty.
- The RSI is weak at 37.36 with a potential bounce at the 30 RSI.
- The 50 day/200 day death cross is rarely bearish, but when it is, it precedes a large plunge 1 in the last 5 times.
- The 50 day SMA is sloping downward, which is bearish.
- Leading stocks are not making higher highs,. Instead they have broken down out of bases and uptrends.
- Momentum is being sold and not bought.
- Bad things happen under the 200 day SMA; flash crashes, sell offs, volatility, and plunges are all possible.