TECHNICALS-SPX

Not that it matters, but just looking to see where the SPX is trading in relation to the "market is extended" sell signals. The 2 day RSI on the SPX is at 97 and we are quite extended from all the moving averages. The VXO has slumped to the single digits and trades at about 7% below its 10 day SMA. Another sell signal on the VXO is under 30 on the 5 day RSI. So sell signals abound just like they have for the last two months. Every dip has been bought since the middle of June so just maybe the market is due for a bit of a rest.