The DOW and SPX are hovering right around even and are at the top of their respective potential bull flag channels, but the DOW is sneaking up and out.
The VIX has been sinking again and just poked outside of its triangle and has now established a downward channel:
The TNX is rising again and thus the setup looks bullish, but again, I’m not sure the impetus is there to break significantly higher. We’ll see, still in the range and thus not betting one way or the other.
I note that the SPX stochastic is very close to issuing a sell signal on the Daily. Also, the transports are negative with their sell signal widening. The XLF is down 2% with a daily sell signal that’s widening. Somebody’s going to get hurt, it’s not going to be me!
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