The diverging RSI, MACD, and PMO indicators, as well as the ratio price, on the SPX:VIX ratio are not confirming the rally in the SPX.
The diverging RSI, MACD, and PMO indicators, as well as the ratio price, on the SPX:VIX ratio are not confirming the rally in the SPX (from June 21)...something I reported on in my post of June 20...so, I'm thinking this latest rally may be a 'dead cat bounce,' and about to turn around.
However, as we know, markets have a habit of baiting, trapping, and surprising.
So, we'll see what happens and whether traders are at all bothered by inflation data.
(Click on image to enlarge)
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