Big sell-off with a huge gap down today (which we could expect to be filled by the bulls) and the VIX almost 15% up. This bring back to my memory this 2002 chart, with a similar chart pattern that is developing today (the famous "megaphone", almost so famous like the failed H & S)
Anyway, it is something interesting to remember:
This are the key levels supports and objectives in the short term (established in the previous posts) that I am following:
Dow Jones US financial Index: key support at 232 (23.6% fibonacci). Today's close: 241.02. But, the XLF is developing a pennant?:
Dow Jones Real State ETF (IYR): it broke the key support at 38.5. Today's close: 37.52. Next support: 35.
Dow Jones Industrial: key support at 8.960. Today's close: 9.135.
Dow Jones Transport: key support at 3.420 (38.2% Fibonacci). Today's close: 3.576.
Nasdaq Composite: Huge gap and very close to resolve (or not) the rising wedge:
UUP: it can not break the downward channel. But it looks like it will keep trying:
10 year US treasury Bond yield:
For the first time in the last 9 months, it broke the uptrend channel.
SPY: some people could see a Head & shoulder, which obejctive is 97: