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12/20 The Chartist overbought/oversold indicator closed today at

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TREND1 Member Level  Thursday, 12/20/18 07:05:52 PM
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12/20 The Chartist overbought/oversold indicator closed today at -7.09 which is the greatest oversold reading since August 22, 2011. The one thing missing for some type of effective bottom is the lack of panic selling.



The S&P 500 has fallen 11.6% in the last 12 trading sessions. But the VIX is only up to 28.30. It hit 30.30 intraday.

In comparison, the S&P fell 10% over eight trading sessions last February with the VIX hitting 50.30 intraday. We think it’s going to take a similar reading that vicinity of to reach some type of effective bottom. We’re close, very close.

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