Bearish Churning Markets at PivotsMarkets are continuing to trade above intraday support area even though we are seeing some technical violation of uptrend lines.
*VIX/VXN have risen to 32.63 and 31.87, respectively, as noted that the volatility was trading at intermediate support.
*VIX/VXN have risen to 32.63 and 31.87, respectively, as noted that the volatility was trading at intermediate support. I commented on the VIX/VXN relative to market actions since 2004, and now, Volatility is of course orchestrated to in sync with market actions to manipulate market directions. This is easy to do when you have entire money printing machine to gear market actions.
* SPX 880 and DOW 8200/8000 pivots.
* Markets are trading near at major resistances: SPX 930 +/-, DOW 8600 +/-, Nasdaq 1770 +/-, NYA 6000 +/-
* Futures are trading at the lower end of 3 weeks trading range -- targeting SPX 820 as next pivot with a break.
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