The moving averages of the 5 Minute $TICK Chart was below zero all day. Had a brief MA crossover after lunch, but the momentum returned to bearish sentiment at 1340 ET.
On the VIX 15 Minute Chart, both the VIX and ES have a 14 period EMA of the (H+L+C)/3 pivot. The VIX returned to bearish sentiment at 1345 ET, and the ES Futures never did cross its EMA.
On the 620 tick chart, we had a 20, 38 EMA cross at 1343 ET. We then had a series of 3-wave moves with 50% corrections to the downside.
Charles
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