{"id":87252,"date":"2016-03-26T16:23:22","date_gmt":"2016-03-26T20:23:22","guid":{"rendered":"http:\/\/countingpips.com\/?p=87252"},"modified":"2016-03-26T16:23:22","modified_gmt":"2016-03-26T20:23:22","slug":"spx-oil-at-critical-juncture","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/03\/spx-oil-at-critical-juncture\/","title":{"rendered":"SPX & Oil at Critical Juncture"},"content":{"rendered":"
March 26, 2016<\/div>
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By Chris Vermeulen – www.TheGoldAndOilGuy.com<\/a><\/strong><\/p>\n

The SPX at the 2050 level looks like a great place for a \u2018pullback\u2019 to begin as indicated in the chart below. There is a potential \u201cdistribution topping phase\u201d in which the SPX may pull back to 2000. \u00a0I see a potential target at 1890.<\/p>\n

The price has made a series of lower swing highs<\/em> and lower swing lows<\/em> since topping in 2015.\u00a0 There was a big August 2015 sell-off, followed by a rally to a lower high in November 2015, then a sell-off to a lower low in January 2016.\u00a0 The rally currently is still at a lower high than the November 2015 high.<\/p>\n

Based on data, provided by Investor Intelligence, the bulls are up to 47.4% and the bears are down to 27.8%. This data has been collected from a survey of newsletter writers and investor advisors.\u00a0 This sentiment has changed very quickly and now points to an \u2018exhaustion inflection point\u2019 in the SPX.\u00a0 This is a rare and excess \u2018swing\u2019 of sentiment within a very brief period of time. It is reflecting that this move upwards is \u2018unsustainable\u2019!<\/p>\n

A topping phase has now started, but know we could see slightly higher highs during this choppy process.<\/p>\n

\"spxtopping\"<\/p>\n

\"spxM2\"<\/p>\n

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Crude Oil and SPX Comparison Chart:<\/strong><\/p>

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Free Reports:<\/p><\/div>\r\n

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As long as the WTI Oil does not rally, the SPX will continue its\u2019 decline.
\n\"spxoil\"<\/strong><\/p>\n

SPX and Oil Trading Conclusion:<\/strong><\/p>\n

I feel oil will hold up and bounce for a couple more weeks and help support the stock market. But once stocks lose their upward momentum and oil starts to fall again \u2013 look out below!<\/p>\n

Find out when to buy and sell the key indexes, sectors and commodities with my ETF trade alert newsletter: www.TheGoldAndOilGuy.com<\/a><\/p>\n

Chris Vermeulen<\/p>\n<\/div>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Chris Vermeulen – www.TheGoldAndOilGuy.com The SPX at the 2050 level looks like a great place for a \u2018pullback\u2019 to begin as indicated in the chart below. There is a potential \u201cdistribution topping phase\u201d in which the SPX may pull back to 2000. \u00a0I see a potential target at 1890. The price has made a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-87252","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/87252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=87252"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/87252\/revisions"}],"predecessor-version":[{"id":87253,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/87252\/revisions\/87253"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=87252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=87252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=87252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}