Impeach the Bull!

Yesterday's sell-off has triggered a mechanical sell signal from the risk model.

The Vix spike yesterday and the collapse of bullish readings from the AAII survey has put the model at a reading of 2 out of 5.

Tuesday lived up to its reputation as a inflection point, but

remember, Tues at 11 is not always bullish.

The RSI of the XIU etf is falling fast, (below), and the reading will surely drop off the chart unless we rally quickly. With a failed attempt at $50 for oil, I don't like the energy heavy Canadian market's chances in the short term.

I'm out of the risk on trade till further notice. Wait for the RSI to bottom out before the next beta up.