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Chart Courtesy of StockCharts.com

  1. Price is under all key individual daily moving averages:
  • The 5 day EMA.
  • The 10 day SMA.
  • The 50 day SMA.
  • The 100 day SMA.
  • The 200 day SMA.
  • The 250 day SMA.

     2. Several bearish moving average cross under signals have triggered:

  • 10 day / 50 day SMA cross under 
  • 50 day / 100 day SMA cross under 
  • 10 day / 100 day SMA cross under 
  • 10 day / 200 day SMA cross under 
  • 10 day / 250 day SMA cross under 

     3. The MACD is under a bearish cross under. 

     4. The $VIX remains under a 10 day / 30 day EMA crossover that is a bearish signal showing an expansion in     volatility based on backtesting. 

     5. The RSI at 35.81 can still go lower before becoming oversold under 30.

     6. Defensive sectors are leading the S&P 500 index and the stock market: utilities, consumer staples, and health care. $XLU $XLP $XLV

     7. The $SPY low of $259.85 is in danger of being tested. 

     8. A $SPY close over the 250 day SMA is the closest moment signal to go long this chart.