I am seeing weakness in stocks with a loss of momentum and volume. There are several interesting red flags I'm observing at this time on many of my indicators.This is just one of many but it shows the percent of s&p stocks above their 50-day moving average. It can serve as a leading indicator and should be observed with a comparison of the index as well as a stoch/rsi or momentum indicator. We can stay in creep mode for a while but I'm expecting a drop soon. I'm not certain if it'll be a lower low (than March) or just a mild 10-15% correction but we should know soon enough. Time to hold fast.
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"this here" missing from the above quote. Apparently TV doesn't like brackets
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a potential tipping point- the vix is breaking out of a small wedge
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"I tell ya.. the Devil's at the wheel at phantom ship.
You'd better hold fast."