Delayed weekly wrap......

Sorry the wrap is a day or two late but I was on the road to and from Motown for a TOS class with both mobile devices not cooperating with connectivity. More on that later, however after attending the class I decided to take look at the SPX using the old Green arrow Red arrow approach we were all taught in our first classes way back when. In the upper right chart we have the daily which clearly shows bearish down turn with three red arrows. Going left to right the next chart is weekly. Although the MACD and STO both have red arrows but the 30MA has yet to be crossed for the third conformation of a down turn. Likewise the monthly in the lower left has been showing green on the MACD and STO but has not yet confirmed by crossing the 30MA. So between the weekly and the monthly we have come to a very important line of resistance and support at the same time. So do we breech or break? Who knows? The VIX knows but may not be telling just yet. As you can see in the lower right the VIX weekly went ballisticly green which is bearish a week ago and did not give up much ground this week resting on support of it's 30MA. So where am I? Cautiously bearish for the moment. If you were to throw a Market Forecast indicator and a market sentiment indicator on the SPX you would see that it is of slightly bearish sentiment but the forecast shows a bullish reversal cluster has formed. So as always, trade the now for what you see.