Even though the S&P 500 Index (SPX) did not reach a new all-time high today (Monday), the SPX:VIX ratio did, as shown on the following two Daily charts.
Keep an eye on the ratio, since an RSI above 50 and upside crossovers on the MACD and PMO indicators are signalling that a new bull market is shaping up for the SPX. Such a breakout would need to be confirmed by a bullish crossover on the PMO, with the crossover maintained on the MACD and the 50 level held on the RSI on the SPX.
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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
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UPCOMING (MAJOR) U.S. ECONOMIC VENTS...
* Wed. May 1 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Fri. May 3 @ 8:30 am ET ~ Employment Data
* Fri. May 10 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. May 15 @ 8:30 am ET ~ Core Retail Sales & Retail Sales
* Wed. May 22 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Thurs. May 23 @ 3:30 am ET ~ German Flash Manufacturing PMI (watch for a hold below 50)...N.B. Jan. 24 PMI came in at 49.9, Feb. 21 PMI came in at 47.6, Mar. 22 came in at 44.7 & Apr. 18 came in at 44.5 (contraction mode deepens!)
* Wed. May 29 @ 2:00 pm ET ~ Beige Book Report
*** Click here for link to Economic Calendars for all upcoming events
NOTABLE POSTS WITH IMPORTANT UPDATES...
"Why does history keep repeating itself? Because we weren't listening the first time." ~~ Author Unknown
"If a fool and his money are soon departed, how did the fool get his money in the first place?" ~~ Author Unknown