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Jonathan,
Aug 21 07:13 am
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All Comments by Oliver Schwindler »Classic Bull Trap? Last Week's Bull Run Missing Confirmation of Breakouts [View article]
I have to tell you that I am currently still bearish for the US market.
However I think there are two important factors which should be followed closely as they currently indicate a different outcome of the latest correction.
At first, the VIX has broken its support zone between 13-14 on the downside, which can be intertreted as a positive sign for a possible bull market.
As Gray Dorsch pointed out in his latest Global Money Trends Newsletter, another important factor is the Reuters/Jefferies CRB Index which broke below its 200 day moving average on Thursday. I would interpret this as a negative sign for a possible bull market.
I think a strong rise in commodities, while the VIX stayes at these low levels, could help the small and mid caps to break out.