Not surprisingly (as in any recession), unemployment is up. Do not believe the news - several months back recession was apparent because there are never that many months of consecutive job losses outside of a recession.
At any rate, today is the follow through on yesterday's push and should turn into some short covering (I would expect). My VIX gauge is showing that a VIX pullback to a trendline is coming soon. Watch the stochs and the "Crazy Investor Indicator". The way to read the "CII" is to look at the CCI for a sharp reversal. That will occur with the CCI stoch crosses confirming.
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21 hours ago
2 comments:
We got the reversal on the CCI. Those are the sharp peaks to the upside. The stochs are not confirming yet but that will probably happen after the close.
Updated the SPY 10-min chart with a comment.
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