Compliment your Mirror Tuesday, page-2

XJO down modestly today -0.27%.



XJO continues in its congestion zone.  If it closes three times below the mid-line of the short-term trend channel, I'll begin to think that our market is looking at fall.  At this stage it is below its mid-line on two occasions.

Other indicators are bearish, so there is a high likelihood of a pull-back.

Breadth today was inconclusive.  A/D Ratio 0.99. AdvancingVolume/DecliningVolume 1.04.  Those figures are essentially flat.

Options traders saw dark clouds on the horizon and the VIX rose substantially.  But A.VIX RSI is now into overbought territory:



XXJ (Financials) was down a little more than the broad market:



But it remains in a congestion zone sitting just under the 200-Day EMA.  Which way this breaks from the congestion zone will be important for our market.

I think we have to wait and see what tonight and tomorrow brings.

RB.