Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Thursday, May 17, 2012

5/17/12 Index Channel Failures

Stock Market Technical Analysis
Click on image above to enlarge

The markets had a really ugly day today as we had major channel failures on the Nasdaq, S&P, and Russell 2000.  Each of the channel failures can be seen in their respective charts above.  I also added a chart of AAPL as it is approaching the center line of one of its secondary channels. 

Alan