Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Wednesday, April 13, 2016

Midterm Channels Projecting Market Pullback

The S&P 500, Nasdaq, and USO have maxed out in their midterm channels as the VIX is basing at the 13.75 level which has projected stock market tops for the past four weeks.  The USO was stopped dead in its tracks after the Saudi Arabia oil minister denounced yesterday's oil deal rumor which had triggered the algos into a blind buying frenzy on the USO and stocks Tuesday and fueled a continuing short squeeze higher today.

Trade well my friends


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