A failure of the SPX, RUT & NDX to hold and rally once more at these near-term major support levels could send them into a much larger correction...ones to watch over the coming days/weeks to see if the ratio of fear begins to accelerate.
Monday, January 27, 2014
Triple Fear
The following 3 Weekly ratio charts show that the SPX, RUT and NDX have weakened in comparison with their respective Fear indices. Price has now reached a major confluence level on all 3 at the bottom of a rising channel (from the 2011 lows) and a 38.2% Fibonacci level (taken from the 2009 lows).
A failure of the SPX, RUT & NDX to hold and rally once more at these near-term major support levels could send them into a much larger correction...ones to watch over the coming days/weeks to see if the ratio of fear begins to accelerate.
A failure of the SPX, RUT & NDX to hold and rally once more at these near-term major support levels could send them into a much larger correction...ones to watch over the coming days/weeks to see if the ratio of fear begins to accelerate.