This is the WEEKLY chart of the SPX equal weighted index, each stock counts the same unlike the weighted spx where seven stocks call the tune
Point is, the index is about to test both the support line and the 200 week Moving Average, I suspect it will lbe broken
Proxy stock Cullen Frost Bank
CFR is makin millions of dollars but the stock is sinking fast.Now it is below its 2 WEEK MA. Iexpect a bounce to test the 20 week MA, a last kiss good bye if you wil
I suspect that kiss will fail and all those who deny this is a bear market will have a day of reckoning.
a ratio chart of vix and spx
Note the low of July 27.Now note that the ratio is above ALL the moving averages.Notice all the MAs are turning up.. The bear market looms ahead.
Comments