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World Markets At Inflection Point

Published 08/25/2017, 12:27 AM
Updated 07/09/2023, 06:31 AM
US500
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VIX
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I don't have much to say about the markets (as of Wednesday's close), except to note that the World Market Index (50-day MA and 1900 near-term support level) and the S&P 500:VIX Ratio (200 price level) are, once again, at/near their respective inflection point.

Downtrending technical indicators are not (yet) supportive of continuing strength in these equity markets and may be signalling that longer-term weakness is ahead, as I mentioned here.

Perhaps we'll get a clearer picture of direction after the conclusion of this week's Jackson Hole meeting.

MSWorld Daily Chart

SPX-VIX Chart

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