Stock Market Consolidation Nearing End, Selling to Resume With Enthusiasm
Stock-Markets / Stock Markets 2013 Mar 05, 2013 - 10:15 AM GMTSideways consolidations are no fun, but they tend to break hard once they are over. It appears that the SPX is in the final throes of consolidation, so don’t get caught unprepared. It may go a bit higher, but the level to watch is today’s low at 1512.29. Once below that, the selling should resume with more enthusiasm. The VIX is finding support at its 50-day moving average, so even though its is at its daily low, it appears that the turn is also near.
Good luck and good trading!
Regards,
Tony
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