BofA Pushes The Panic Buttton: “Dow Theory Sell Signal, Key Supports Broken, Semis Sinking, No Capitulation”

Friday, August 21, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
08/21/2015

To think it only took an unprecedented surge in volatility as the market suddenly realized that central banks are losing control in a world where secular stagnation is a direct function of 7 years of failed central bank policy, to get the banks out of permabullish hibernation and to slam the “sell everything” alert.

Here is BofA’s new chief technical research strategist Stephen Suttmeier telling his clients “Dow Theory flashes Sell Signal”

Dow Theory flashes sell signal. S&P 500, NYSE & Russell 2000 all closed below key supports.
No tactical capitulation. Not 90% down. ARMS below 2.0. 10-day total put/call ratio not showing panic. But VXV/VIX oversold.

Some more details from BofA with charts and what not that our readers have, as usual, known for weeks in advance.

Red light: Dow Theory flashes Sell signal as of August 20

The Rest…HERE

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