Hi Shoppers,

You are long over due for a good quote!

Thomas Fuller, remembered as a prolific and witty author said, 

“One that would have the fruit must climb the tree.”

As traders we need to do the work. Right?

Use all our tools and follow our indicators.

One very telling indicator of market sentiment is the Volatility S&P 500 Index or the VIX.

They actually call it the fear gauge.

I watch the VIX on the five minute chart along with the SPX on the five minute chart.

If the SPX is really gaining momentum (usually on the downside) you will see it with the VIX moving higher.

The VIX looks quiet and begins to trade lower, tells us the market isn’t expected to make any major moves or it is going to meander higher. (Mark’s favorite word.)

Of course you all know the main weapon in my arsenal is charting.

I love the pitchforks and trendlines along with those change in trend candles.

There is currently a key chart pattern I am watching to signal if Friday’s rally was the real deal and the coast is clear to buy stocks again or if it was just another one of those face ripper rallies in a down trending market.

Continue here and I will show you what to watch for next week.

Thank You For Reading … See You Next Tuesday,

Licia Leslie