SPY/QQQ Plan Your Trade 8-1 : Where's the BaseRally301 PatternI know. I'm asking the same question.
Today's move is not normal. The US markets don't move 1.5 to 3.5% on normal days. This is something bigger - outside the normal scope of market data.
It could be the election conflict in Venezuela.
It could be the US POTUS election news.
It could be what appears to be a collapse in Asian markets.
It could be that European markets fell hard today.
It could be anything that is related to forward expectations for the US/Global markets.
My data is still showing this is a DIP in a bullish trend (a BUY THE DIP opportunity).
My data shows the following:
- Europe & Asia are trending downward.
- US is following Europe/Asia.
- US-Dollar Demand (SPY BASE TREND) is flat - but still strong
- Hedge Assets (Gold/Silver/BTCUSD) are holding up well in the face of this move.
- The MRM system has not turned BEARISH yet (that's good).
- Major Markets To Metals (hedge instruments) are much weaker.
- The Volatility Index is at 15.51 (still above the <12 level for a bearish trend).
- The Leading Index is lower (showing Volatility near a Flag Apex).
- The Market Ratio index is higher (showing reflation strength).
- The US to Global Index is still showing the US markets are stronger than the foreign markets.
- The US Valuation Trend index is at 240 (reflating strongly compared to foreign markets).
After watching the price trend all morning with my new MENT Pressure System (including the Fibonacci Price Theory model), I really do believe this is a FLUSH-OUT LOW setting up which will revert back into a bullish price trend (the Vortex Rally phase).
Nothing seems broken to me (yet).
Get some.
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