Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Tuesday, October 7, 2014

Mid-morning Update

Stock Market Technical Analysis 

click on image to enlarge

Following up from last night's blog, a new wave of selling is coming in this morning as the tip of the red EMA is barely starting to cross above the larger green EMA line.  Obviously, it can't be seen yet in the regular view on the left but you can see it in the stretched out zoom in view on the right.  These are EMA lines which are heavily influenced by the current trading bar.  If we have a big up day in the stock market on Wednesday it could pull the VXX red EMA line back down to a perfect merge no longer showing the tip starting to cross.  It will probably be Wednesday's afternoon close before we can see for sure if we have an up cross or a head fake.

Trade well my friends


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