On Tuesday November 14th US tockmarkets open with a sharp sell off.
The Dow Jones Industrial Index lost 168 points and reversed mostly all intraday losses.
The DJIA endet on intraday highs.
VIX and DJIA showing simultanious reversal pattern indicating new all time highs for stockmarkets and vice versa new all time lows for the VIX. Target by end of 2017 is below 9.
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SENTIMENT VIEW: AAII SENTIMENT SURVEY
29,3 % bullish 35,4 % neutral 35,2 % bearish
AAII Sentiment Survey: Pessimism has fallen by 10.0 percentage points over the past two weeks and is now at its lowest level since mid-September. aaii.com/sentimentsurvey
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Any rise above 2.580 would eliminate a possible head and shoulders pattern, wich is probalby widely expected to be completed soon. Any break above 2.586 would cause SL orders on shortpositions.
Even US Indices just fallen by a narrow maring of 1,5% some indicators showing clearly that bears are back:
- Sentiment Indicators such as CNN.com Fear&Greed ("36", few points above "extreme fear") - Bloomberg Fear Greed Indicator - Cboe.com Intraday Put Call Ratios (at year high) - Vix(@14,00)
Indicators above indicating a sharp short sqeeze if ever SPY rising above 2.600. This resist is not more fare a way than just a few points compared with the current levels.