Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Tuesday, January 29, 2013

Another Notch Higher

Stock Market Technical Analysis Blog

Click on image to enlarge

In the market today we saw the VIX resume its short term upper channel as the S&P climbed a little higher also.  Looking at the first chart cluster, the short term S&P and VIX, we see the S&P sliding up its ascension channel while the VIX caught its lower channel line and resumed upward in the late afternoon.

In the second chart cluster, the midterm look, we see that the S&P is trying to work its way up in the inner blue line ascension channel that could take the S&P to the 1560 to 1570 area if they can keep the slow melt up going.

In the third chart cluster, the long term chart of the S&P, I marked in the number of years in each up cycle and down cycle as it shows us approaching the top  of this up cycle.  The multi year down cycle has widely varied after each time we touched the upper channel line as shown in that chart.

Last cluster, trendline chart of AAPL, we see that so far they are successfully keeping AAPL above its lower horizontal channel trying to mark it as a bottom in AAPL.


Blog Archive