Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Wednesday, January 30, 2013

GDP Pullback

Stock Market Technical Analysis Blog

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In the market today we had a modest pullback after participants were surprised by the contraction in the fourth quarter GDP.  This doesn't necessarily mean the market will start to pull back as their determination in pushing this market higher has not been seen since the first quarter of 2004.  In the chart cluster above, while the VIX continued rising the S&P reversed in the last thirty minutes showing its resistance to dropping back down into the black channel.  Tomorrow's another day...


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