Will Markets continue the Sell Off as we put in big reversals yesterday?
Low volume, no trend action in early European trading. The US markets reversed big time yesterday. At one point we saw a “mini panic” sell off. Broken markets, mainly driven by manipulation, intervention and HFT, are dangerous markets. We believe the sharp rally seen over the past days, with yesterday’s reversal, is the first sign in several weeks, of bulls getting less confident. Possible scenario presented below. SPX short and long term charts presented.