extremes

These are some fast moving markets out there.  Today we saw numerous possible extremes and a massive EoD rally.  Let's dig in.

The weekly close in VIX matters.

XLF held onto major support like it's life depended on it.  It does.

The Gold ETF relative to the S&P 500 ETF broke it's near term downtrend, but didn't hold at the end of the day.  Are we at a bearish extreme?  Thursday will tell us plenty.

Gold itself is just about testing the falling 50D MA.

The S&P dividend ETF relative to the S&P 500 hit trend resistance today.  Another bearish extreme hitting here?

The IWM is outperforming the Dow this week.  We see a massive resistance level coming up soon.  Looks like a breakdown backtest to me.  Note the 50 and 200D MA's are now trending lower.

The At The Money sentiment indicator went off today.  It suggests negativity is at an extreme.  It was very helpful in the last two years, have conditions changed that much?  We'll know soon enough.

The NYSE stock only advance-decline line has wildly diverged and didn't touch a low today.  A clear bullish sign here.

Trade 'em well