Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Wednesday, March 23, 2016

S&P 500 Failing at Major Resistance, VIX Rising From Major Support

In the market Wednesday we saw an increasing pullback from the S&P which stopped its climb on Tuesday as it found major resistance at its one year declining upper channel line shown in the daily bars chart below.  

Looking at the lower half of the chart it can be seen that the VIX continues to rise from the major support of its 8- month lower channel line.  

Trade well my friends


Tonight's Best Reads:

Blog Archive