18 Dec 2015 - Candle or Dynamite..

I don't really know where to start since this move the past few days is just too damn UGLY.  Not your normal kind of push down.  No... this one had a few implications, so lets just list it in point form.

- 5 waves down from FED high.
- Below 200 day MA
- OS in intra-day closing meaning a possible acceleration risk to downside by Sunday futures or Monday open.
- Weekly closing candle bar look like the picture above, with price under 75 and 20 week MA.
- ST turned down

Aside from being technically bearish, investors do not look too confident about the rate hike.  I can guess with financial institutions quick in raising interest rates themselves as well, that things will just get worse unless someone intervenes or provides better options.

My Bearish Sentiment Indicator will definitely have pushed further away from crossing over to bullish.  This keeps us gloomy for the longer time frame.  So I will not waste your time with reading and just show you ugly pictures.

SEN: Bearish
ST: DOWN
PA: DOWN

It's not to say we could not rally or turn bullish, and I think next week should see some pressure alleviated and should rally.  But in all honesty, it's not looking good.

This last chart has not updated its weekly results but you should see the signal push lower and away from the 50 keeping things in bearishness.  The signal for a few weeks was very close to turning bullish as can also be seen in the price movements in the SPX.  All in all I still remain bearish.