Adding strength to our "SPX 2000" theme is the VIX resuming its teen status as the risk averse are dissuaded from insuring falling stock prices.
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| VIX Daily |
The questions now become, will buyers overwhelm sellers at SPX 2000 and 2060, push price into new highs, above 2120, and resume a broad market uptrend?
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SPX Daily
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Available evidence suggests "yes" assuming risk assets can make peace with their common foes; a stronger US dollar and rising treasury yields.
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| DXY Daily |
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| US 10 Year (Yield) |
Bulls, with the obstacles of SPX 2000 and 2060 to overcome, are not out of the woods yet and can expect a fight from institutions will millions of dollars bet on bear a market.
Happy trading.
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