Signals & Trading Plan for Friday 8/16/19

Updates from market internals
The latest updates from market breadth and the percentage of bullish stocks are still bearish.  In the big picture context, stocks are still in Major Pullback2.

VIX futures contract M1 M2 M3 M4 are all in backwardation.  This means that traders are very bearish about current scenarios in August, less so in September, less so in October and November.  

However, in the short-term stocks are fairly oversold as indicated by the CBOE equity put/call ratio. 

The rest of this article covers:
Updates from market internals (more)
Table of support and resistance levels
Trade scenarios to plan for

Register your email here for full access to all our nightly analysis, trading plans and intraday updates. 
No credit card. 
All free.