Stock Market Technical Analysis Blog
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In the market today, Ben let us know that the economy and stock market can't make it without the entire $85 billion monthly steroid injection. When the surprise no taper announcement was made the S&P jumped 15 points higher, without one trade going off, and then squeezed another 15 pts higher to scald the massive short interest.
The world is asking why did Ben back off, once again the answer lies in the VIX chart. Looking at the lower left corner chart above we see that the Sentiment EMA juncture that was ready to start lifting today and cause a second leg of correction to begin was instantly broken to the downside as the S&P jumped 15 points higher without a single trade taking place. Job well done Ben
No market manipulation there ;)
Trade well my friends