Global Trend Watch
S & P 500 (SPY) Multiple Time-frame Market Analysis
- Bullish on SPY on the Daily and Weekly time-frame.
- Trend has been in place for an extended period.
- Resistance at 117.5 broken on the daily chart (Fibonacci 61.8%).
- Potential Resistance at 120 (A & B Bands).
- Watching VIX to confirm market trend continuation.
Volatility Index (VIX) Multiple Time-frame Market Analysis
Summary on the VIX:
- Resistance at the 16 level being tested on Weekly, Daily & Intra-day time-frame
- Bear Confirmed on Williams %R (Dly,Wkly,Mthly)
- Watching VIX closely to see if market can break the 16 level on the VIX.
Stay tuned next week for an extended Stock Market Analysis including the ASX and selected commodities and currencies