The VIX has continued its move higher on conflicting Dubai and retail sales reports and interpretations, leaving the Russell 2000 (IWM) down nearly a full percent. Down Volume is slightly outpacing Up Volume, Cumulative Tick is very negative and the Advance - Decline line has been vacillating in direction while maintaining a negative net disposition. That said, selling pressure "feels" light, SPX 1,085 has provided sound support, and price action may yet be saved by turn-of-month seasonality -- still it will be an upward battle to fight these internals.
Jeff Pietsch is a registered investment adviser in the State of Washington. The adviser may not transact business in states where it is not appropriately registered, excluded or exempted from registration. Individualized responses to persons that involve either the effecting of transaction in securities, or the rendering of personalized investment advice for compensation, will not be made without registration or exemption.
This blog is for educational purposes only, and nothing herein should be construed as an offer to buy or sell, or as a solicitation of an offer to buy or sell securities, or to provide individual investment advice. Investing is risky and past performance, whether actual or tested, is no guarantee of future results. The author neither endorses nor warrants the content of this site, any embedded advertisement, or any linked resource. The author or his managed funds may hold either long or short positions in the referenced securities. Republication rights must be expressly granted by author in writing. Astrices (*) indicate a compensated hyperlink or product reference. Author is the sole owner of the "ETF Rewind," shares in the proceeds of "DV_indicators", and may exchange services in-kind with participant contributors.