Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Friday, June 14, 2013

SPY & NASDAQ Triangles

Stock Market Technical Analysis Blog

click on image to enlarge

In the market today, we lost part of yesterday's gains as the VIX reversed again and went back up to the underside of the blue 432 line.  One thing that is quite noticeable is that the past two weeks trading has been spent building large symmetric triangles on both the SPY and NASDAQ.  The market may get more volatile as these triangles near a point and breakout in either direction.  

Trade well my friends