Wednesday, July 13, 2016

Stock Market Analysis - More Sell Signals Confirmed

VIX Chart

The VIX has not also confirmed a sell signal on the 130min chart, signaling that the upcoming decline in the S&P will be much larger than 20 points. Now I am expecting a 35-40 point minimum decline from where the top is registered.  However, that is only a minimum decline level, it's just a starting point.  It has only printed three waves in on this rally so a strong decline to confirm that it was only a three wave rally could be a sign that something much bigger is happening to the downside.


Nasdaq 100 Chart


The Nasdaq 100 is starting to get in on the fun too as it has now confirmed a bearish signal.  The S&P has yet to confirm a bearish signal on the index itself, however the VIX has confirmed bearish stock market moves on both the 30min and 130min charts.  So a stock market decline is near.


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PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.

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