Broken lines

Wow, if you are a trader you ar oving this environmnt. Otherwise, the whipsaws from tops of ranges to bottom of ranges could test one's fortitude.

It is noteworty that the S&P precisely touched the July lows and does appear to have more room to fall.


The VIX blew out the top of the downtrend and is definitely a barometer to keep a close eye on for a direction change.

Another way to will be GLD. Its just uncanny how GLD has bounced off the FIB extenision and retraced back to a fan line.

Also, the FXI or China index broke a long term trendline as the Chinese government lowered their rates today. I believe the bottom will be tested here before any sustainable bullish movements on the American side will hold.