Further to my last post on the SPX:VIX ratio, price is still consolidating and we're awaiting a break one way or the other (above 180.00 or below 110.00).
Meanwhile, volatile swings continue, pushing down record-high Momentum levels...a drop below the zero level (see Weekly chart below) could see a break of this weekly uptrend begin to the downside (around the 110.00 price level). However, we may see a retest of the 130.00 level on the pretext of a major breakdown followed by a surge in price action.
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