What's Next... Will We Have a Rising or Falling Market? - Update
The most important market test of the past two months is NOW facing the market.
Note how the market Strength has behaved on our C-RSI, 30 day indicator. It has been in a down trend since April, and it has been in Negative Territory since the end of July. That has translated into a DOWN condition for the market during the past few months.
Is this about to change?
What happens within the next few days to the C-RSI's level will determine what happens next in the stock market.
This describes the BIG test coming up and what has to happen for the market to rally:
On Wednesday of this week, the C-RSI made progress and closed above the resistance line. NOW the C-RSI is at the important juncture of seeing if it can move above the red zero line. If that happens and holds on any retesting, the market will begin a new upside rally.
(A note for Advanced and Standard subscribers: Please be sure to read the Standard site's Special Chart section, Chart 2 today. It shows you a very important study on the SPY versus the VIX, versus the Institutional daily Buying and Selling amounts on a daily basis. It will tell you exactly where Institutional investors are now, relative to their trust and commitment level in the stock market.)