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SPX: Dead Cat Bounce?

Published 07/14/2021, 12:21 AM
Updated 07/09/2023, 06:31 AM

The diverging RSI, MACD, and PMO indicators, as well as the ratio price, on the SPX:VIX ratio are not confirming the rally in the SPX (from June 21)...something I reported on in my post of June 21...so, I'm thinking this latest rally may be a 'dead cat bounce,' and about to turn around.

However, as we know, markets have a habit of baiting, trapping and surprising.

So, we'll see what happens, and whether traders are at all bothered by inflation data.

SPX/VIX Daily Chart

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