MATASII'S INDICATOR WHICH WARNED - NOW INDICATES DAMAGE "TEMPORARILY DONE"
The chart below updates an earlier MATASII post to illustrate that the MATASII's proprietary MATA Indicator for the VIX is suggesting that the technical damage to the market has been temporarily done. Overhead resistance is presently quite strong. The S&P 500 has separately found support at its 50 DMA (see bottom of post for reference) which coincidentally closely aligns with the VIX's overhead resistance!
Indices such as the $DJIA are showing the largest oversold readings in 2019:
It will take another shock to push the VIX to its next overhead resistance band. A complete breakdown in the US-China Trade talks could be just such an event. The MATASII'S Proprietary MATA Indicator (Bottom Panel) has been warning that a major VIX Reversal was imminent since late April.
S&P 500 REFERENCE CHART
[SITE INDEX -- TIPPING POINTS - RISK REVERSAL]
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