I don’t see any usual tricks today. By taking a quick look at my chart book, I found the following 2 interesting charts:
A black bar was formed on the VIX daily chart which seems not very friendly to bears as 8 out of 10 times on the chart when a black bar was formed the VIX retreated further in the following days.
SPX 60 min cycle, 2 cycles are due for the next 2 trading days. This could mean that we’re very close to a turning point. Whether it’s up or down, I have no idea.
A chart from Uempel as follow up for the discussion about Long Term Trend Line:
