SPX RSI weekly signal

The weekly RSI minimum downside target projection falls in a zone where it would both touch the 200 day moving average which is well over due and lines up parallel lower but rising channel with the current upper channel line projection. I'm looking for a 960 to 980 within the next 10 trading days.

ASA is looking due for a correction

I'm expecting a decent size pull back in ASA..

$DJCOMP weekly target

Looking at the weekly chart of the Dow composite index things look lined up to finally test the 200 day moving average which is at the apprx area of the minimum downside projection of the weekly RSI sell signal that is now flashing. If this price objective is met it will cause another longer term (weekly) topping chart pattern to emerge the likes of which is still yet to be seen...

RSI target hit..

well the RSI sell target has been hit and I'd expect stocks may try to move back up to test the highs again however the divergence that is opening up between the high yield ramp job and utilities suggest high yield bonds have gotten ahead of themselves and should spook the market some as it comes back inline, therefore I suspect the selling in equities isn't over yet...

$SPX intra day channel targets

The intra day divergence between the $SPX and RSI calls for a test of and potential break of the lower channel line...

flag consolidation in IYG

I'm seeing a flag consolidation in IYG which would measure apprx. the mid way point of the move lower and would also help get us to the minimum price objective down triggered by the RSI sell signal on the SPY...

$SPX vs XOM

I'm keeping a close eye on XOM as a clue to where $SPX may be heading longer term.
Notice how XOM sold off less then the markets since the 2007 top yet since the bounce off the lows XOM has lagged and seems to be trading within a longer term consolation and in fact price seems to be struggling to get above a very long term uptrend line. I think I can apply a Elliott wave count to XOM that suggests price is about to fail out this level and take us down in a large C wave affair...

IYM technicals

Looks to me like IYM technical speaking is at a minimum only halfway through it's move lower which aligns with UUP and SPY targets..

SPY intra day flag/triangle consolidation

Looks like money is leaking out of the bottom of the intra day triangle consolidation in the SPY...

Dollar vs. SPY

an overlay comparison of UUP over SPY with RSI divergent signals suggest the blue dashed lines as minimum targets in the price action..

The next shoe to drop...

Just looking at C from a technical stand point let alone the fundies and I think I can see where one of the next shoes to drop will come from. On the daily when you see a test of the lows coming in this kind of pattern and then look a little deeper and see the one minute intra day bar chart with OBV and something about to snap...