Tuesday, January 29, 2013

Time to pop?

After a nice bullish run, the steam is running low and it is about time to pop...

Coincidentally, I seem to be able to view the charts only just before a possible pullback.

Looking at the ES weekly charts, exhaustion is setting in. And the daily ES charts signal a possible interim top. The VIX has posted a buy signal yesterday.

Other correlated markets do look indecisive, which indicates a pullback... Crude is toppish, TLT (bond ETF) is still in a downtrend, Gold and the USD futures look indecisive.

On the news front, there is not much headwind for now.

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