Monday, October 31, 2011

The Morning Call Monday 10/31 Chartology

The Market


This market is way over bought (chart):

Monday Morning Chartology

The S&P is well within its intermediate term trading range (1101-1372) and has now formed a short term up trend (1207-1313).

GLD, after testing the lower boundary of its intermediate term up trend two weeks ago, rebound sharply last week.

The VIX clearly broke out of the elevated zone of trading--a positive for stocks.


Thoughts on the Market from Zachary Karabell (medium):