A Preview of a Drop

The struggle continues. It looked in early trading on Monday as though a decline was under way, but the continuing resiliency of a market that is fixated on going up quickly erased all of the more than 120-point Dow slide and put the average back into a very indecisive position. What had looked as though it would be a big red day became, instead, a standoff day. 

In the meantime, as we can see on the second chart, below, all of the shorter-term Arms Index moving averages have become indecisive and uninformative. However the volatility index, the VIX, not shown today, remains in overly complacent territory, and that serves as a warning that the next move of consequence is likely to be to the downside....288 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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