Thursday, June 26, 2014
The equity put/call ratio is now below the level reached in January of this year. Once this turns up a correction is probably at hand.
The bullish percent index has put in indicator divergence on the new highs. The ADX is also at a level that when it rolls, should issue an equity sell signal.
We are close to the 20-40 pt. range that the SPX ADX signal issued a sell signal marking a top.
RSI negative div on SPX:VIX. RSI below 50 is generally not good for SP-500 (currently 52).
Posted by James Genosky at 6:22 AM