Weekend Analysis

(4/18/15)

As mentioned on Thursday I was worried about investor complacency as the VIX had dropped back below the 13 level twice over a period of a few days.  The previous three times this happened (points A) the S&P 500 went through a correction phase (points B to C).

Overall the S&P 500 still looks like it's forming a Triangle pattern with key support this week around 2060.  If the S&P 500 were to break solidly below the 2060 area then that would nullify the Triangle. 

 

 

 

 

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