Tuesday, July 12, 2016
NYMO McClellan Oscillator and SPX (S&P 500) Daily Charts Signal Top At Hand
NYMO is moving into lofty levels consistent with a market top and time to selloff.The CPC and CPCE put/calls remain low indicating the ongoing complacency. VIX printed a 12-handle indicating complete lack of fear. There is no reason to worry since central bankers always support the stock market. Traders stagger around each day, inebriated from Fed wine, buying stocks with reckless abandon and total disregard for valuation.
The green circles are attractive market bottoms where ideal entries on the long side occur. The red circles are market tops. What do you think will happen?This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.