March 7th – Market Thoughts

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I want to discuss a few things as we go through our Market Review today, so let's dig in...

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These first 2 charts are from yesterdays report:

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SPX – The SPX has broken down from the channel, the gap open seems to have back-tested it Monday, and  I still think that we are coming due for a dip, plus…

 

TRAN – The Transports have been leading the way and may  eventually drop to the 50sma.

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Wednesday – A Nice Set Up

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After a quick review of the Markets, I want to discuss some really nice looking 'set ups' that have been playing out for the short term Traders and medium to longer term investors alike.

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March 5th – Tuesday

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VIX  -    In reports last week, I mentioned that the General Markets have been moving fairly smoothly up and out of a V-Bottom.  I also discussed that the VIX looked as though it could start getting choppy and this would cause volatility in the General Markets too.

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On Monday, the VIX surged to the 200sma and the markets sold off.  The VIX MACD also seems positive for a push higher, but it was capped at the 200sma like it has been in the past.  So far the VIX is near recent lows, but I'm keeping an eye on it.

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