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As mentioned in prior reports, sideways consolidations and bases can build up energy for larger directional moves. The Vix chart above ( click on it) seems to be basing and other sectors also have been moving in sideways in consolidations. If the VIX breaks out & runs eventually, the markets should correct. Lets take a closer look at recent activity and see if we can determine what it means.
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SPX- So far the dips have been bought and trading this pattern has been obvious, but is it due to change sometime soon?
Lets take a look at the NASDAQ...
Read More USD WKLY - looks strong and found support in an important area
The DAILY USD - looks a bit more bearish. The MACD dipped well below the zero line for the first time in a long time. Is that a H&S forming? The outcome of this move could affect all markets.
Lets look at several other sectors...
Read MoreQuick Low Risk Trade Idea -
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