Friday, October 17, 2014

Earnings Catalyze Bounce...10.17.14

Good earnings from GE and UNH helped propel the markets higher.  There were a few waves of selling mid session but the NYAD closed at a bullish 2.00 and the VIX tumbled over 12%.
Monday we'll see how much of today's action was short covering driven as APPLE and IBM report.
The SPY Vixen chart below doesn't really reflect the scale of today's 263 point (1.6%) DOW move...that's because the range moves over the past few days have been so far above normal.
The TrendX chart on the right side panel now looks optimistic for SPY....just keep those earnings coming in upbeat...or else..
M3 goes live this weekend.
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