SPX is overbought while SPY shows caution and NDX remains weak
$S&P 500(.SPX)$ : Once again, we've reached a moment of truth.
The oscillator is overbought, and the 4-hour chart reflects indecision with pullback potential if the pattern repeats.
Sooner or later, one of these reversal signals will give way.
Bullish breakout? the $Cboe Volatility Index(VIX)$ continues above 17.
$SPDR S&P 500 ETF Trust(SPY)$ : The price continues above the 20DMA but today's bearish engulfing candle suggests extreme caution.
The VIX is still high and $NASDAQ 100(NDX)$ below the 20DMA. If the supports are breached, the lower Bollinger band could be tested again during the usually weak second half of February.
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