Morning chart- S&P 500 forms triangle!

Gary Kwapik

Morning chart- S&P 500 forms triangle!

By Gary Kwapik — Author

Hello Everyone,

The S&P 500 chart shows the index forming a triangle pattern in the upper end of it's range.

Current futures are down over 250 points this morning suggesting a move to the lower end of the triangle around the 2000 area.

The VIX short term indicator showed a sell signal a few days ago helping traders to position themselves accordingly. Vix is still on a sell signal as shown in the notes below.

Posted to Stock & Option Scout on Jan 27, 2015 — 9:01 AM

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Gary Kwapik