Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Monday, October 13, 2014

Bounce Attempt Fails

Stock Market Technical Analysis

click on image to enlarge

20 minutes to the bell shows we have the market rolling over as the bounce attempt this morning failed when the VIX settled back down to the 21 area but reversed back up implying that the 21 level has now changed from a resistance line to a support line for the VIX, the bulls worst nightmare.  We could have some short-covering into the bell, nonetheless, if the VIX 21 level continues to show as support another wave of selling will likely come into stocks.

Trade well my friends


Blog Archive