Using the W%R(500) to gauge the level of fear,we can see that levels below -75 SPY is in a bullish trend and levels above -75 there's either a VIX warning or SPY in a bear trend. Here I drew basic trend lines as triggers for long and short signals.Currently the VIX is rising and just below minor resistance R1. SPY is still in a well defined up trend but correcting from overbought levels and holding above trend line S1 support.
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nmike
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....W%R(500) resistance point broken on daily frame
nmike
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.........further downside if doesn't hold S2
nmike
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....interesting moves on this chart last week.....the VIX falls after hitting resistance, and SPY moved higher after hitting a minor pivot support and it is now back above S1
nmike
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VIX falling from KEY resistance levels
QuantitativeExhaustion
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No CCI warning signs?
nmike
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the weekly CCI(100) is currently below mid point
john.thiel.106
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Any way to magnify? I can't analyze it - also need candlesticks format - but other than that its good technical analysis JT