The big news yesterday was that a daily RSI 5 & NYMO sell signal was triggered. This is the thirtieth of these sell signals since the start of 2007 and 20 of the previous 29 made the target at the 30 level on the daily RSI 5. For this and other reasons I am looking lower here, though given the RSI 5 close at 42 yesterday we could see that signal target made in the 2030s or even possibly the low 2040s as long as the low was sustained into the close. SPX daily chart:
Slope of Hope Blog Posts
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