The 60-day S&P 500 chart has mixed indicators.
1. After high volume activity in January, 2008, we may see that current volume is much lover.Negative signs:
2. SBV is rising
3. The last MVO was red – last volume surge was to the price move down
4. MACD is rising
5. Stochastics is rising
6. VIX (Volatility Index) declines.
1. Advance/decline volume and issues oscillators are in declineI would consider higher odds on the recovery. Yet the indicators may change and they need daily monitoring.
2. RSI is in decline
3. VIX is still at high level:
Do not confuse this post with my previous post. The previous post is based on the 2-year chart and would intend to explain my vision of the longer term trend, while 60-day chart helps me to assume the trend over the next couple of sessions.