Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Tuesday, October 14, 2014

Midday Chart Update

Stock Market Technical Analysis

click on image to enlarge

There was a fairly impressive intervention in the S&P futures late last evening.  They were able to hold until the open for a gap up and a small squeeze.  Looking at the intraday charts above, we see that the S&P did climb back into its downhill red channel but the NASDAQ did not.  The  chart to be watched is the bottom right corner chart of the VXX (short term VIX Futures) to see if it drops out of its steep blue line channel or turns back up.  Whichever way it breaks will likley determine trading for the rest of today.

Trade well my friends


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