Some charts below, before the World ends, according to some at least. Yes, the trader is bearish, and we see the market going lower long term, but let’s not forget, the market is moving on extremely small illiquid volumes, all summer. Some of the moves are almost not significant statistically speaking. Before one gets too bearish reading the newspapers, consider we are once again approaching support levels in the market. Despite everything feeling very bad, the Economy is falling once again, and the long term charts are saying sell, we are approaching some support levels. Beware selling into these supports and then chasing everything much higher, at least in the short term. Don’t be surprised to see the market reverse, and confuse everybody. Also note, the big Vix formation we mentioned weeks ago, is reaching some resistance levels. SPX, Vix, Stoxx, Italy ans Spain.
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