The DOW is currently down 52 as the indices fill the gap from this morning’s open.
The action on the VIX was interesting this morning. It came down while the market was down on the open – that is a divergence. It tested the bottom boundary of that triangle again and JUMPED off of it.
Here’s a close up from TOS:
The TOS charts are incorrect and not posting correct VIX information. This makes pattern work difficult. The Prophet charts are better, here’s a 20 day view of the VIX and you can see this morning’s action in the circle.
I just can’t see going long unless that bottom boundary breaks. It hasn’t, I’m watching it – closely.
Economic News , Data & Views.... January 17 , 2017 ..... Quick Hits For Tuesday -1) Markets : Asia Economic Calendar For Tuesday , Data & Market Moving News ; US & Europe - US & Europe Major Stock Indexes Lose Ground Today ( Red Flag Day ) , FX Volatility Highlighted by GBP/USD Cross , USD/MXN Cross Movement Stalls At 38.2 ( Fib Number ) & Awaits Trump , Aussie Dollar Also Strong Vs USD Today ; Oil Essentially Treads Water Today ; Additional Items Of Note. 2) Europe In Focus : UK In Focus - Theresa May Sets Forth Vision For Brexit ; Greece in Focus - Syriza Folds To Creditor Demands Once Again ( Surprise , Surprise , Surprise ) ; Italy In Focus - Budget Dilemma , Italian Gov't Still Needs To Work Through Budget Issues With EUC ; Ukraine & Russia Fencing With Each Other Again ; Additional Items Of Note. 3) UD Political Round Up Of News & Views. 4) Odds & Ends - Libya , Iraq , Syria & Turkey In Focus !
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