VIX bolted 2 pips last week, esp Friday then settled back to 14.7% so you're (and Hoop) are probably right, the indices look to thrash around here or thereabouts trying to find direction.
Printable View
DOW made a clean breakout and close above the descending trend line resistance, now support. Refer previous chart. Target 17977 being 100% retrace of the Nov 3 2015 high. Impressive, especially if it continues up to test the all time high 18351 19 May 2015. Other big US indices are a bit behind DOW's recovery but trending in the same direction.
Yes. DOW has taken the lead in the USA. Markets from the USA to Asia pacific region have become somewhat active now.
Should be an interesting week coming up, after 5 days of price weakness but the Golden Cross (50EMA crossed up through the 200MA) suggests otherwise. Indicators have all turned over, could be a top is in with the DOW after the past few weeks of stellar performance.
Attachment 7967
DOW is getting closer to 18,000.
http://www.forbes.com/sites/marketnewsvideo/2016/04/13/dow-movers-vz-jpm-2/#4bce88057243
Dow Movers: VZ, JPM
http://money.cnn.com/2016/04/18/inve...000/index.html
Wild ride: Dow tops 18,000 for first time since last July
Technicians seem to be doubting their tea leaves
Twiggs also : On the fourteenth he said "I remain wary of this rally but will heed Jesse Livermore's advice: never argue with the tape", but more recently said "I remain wary of the current state of the global economy and will continue on the defensive. This is not a classic bull market.
Me too!
I see an enormous W
Attachment 7991
Believe the chart eh?
A classic looking W double bottom pattern (bullish), nice down-trend line breakout-up and currently testing the Neckline resistance, with a weekly close just above at 18003 (significant?). Pattern probability suggests a breakout-up of the neckline here would go easily to the all time high.
On the doubt side, all indicators diverging, not a good sign. Outside the chart, reflecting on the US economy, and who is actually buying (and selling) this rally, it's no wonder the doubt creeps in. It looks so toppy (price) and unstable (indicators).
Attachment 7992
dyodd