Today’s trick is that both SPX and VIX were closed in red which by counting green vertical lines below, 10 out 14 times recently a green close the next day.
Also the Major Distribution Day chart I mentioned in the last After Bell Quick Summary, unfortunately we fell into the group of smaller chances - the 9 cases a red close the next day(see dashed vertical red lines). If you observe those 9 cases carefully, you’ll find that most likely there were more days of declines ahead, even though there were 4 cases the market rebounded the next day (well, 4 out of 9 is not a good odd to bet on a green close tomorrow).
Bottom line, I’m not sure about tomorrow, and odds are that more declines are ahead at least short-term, even if we do have a rebound tomorrow.
Disclaimer
The information contained on this website and from any communication related to the author’s blog and chartbook is for information purposes only. The chart analysis and the market recap do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.
This websites provides third-party websites for your convenience but the author does not endorse, approve, or certify the information on other websites, nor does the author take responsibility for a part or all materials on the third-party websites which are not maintained by the author.
