Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Thursday, May 19, 2011

VIX Breaks Down 5/19/11

Stock Market Technical Analysis
Click on above image to enlarge

Today the VIX broke down through the shelf line level established last week.  This allowed another day of modest climb on the SPY.  I overlayed a 120 minute SPY bar chart onto the Day Candle chart of the SPY.  It gives a closer view of the short term trend lines of the SPY and makes price patterns easier to spot.  The odds favor another up day on the indexes tomorrow.

Alan