lowbrow friday, page-85

Just a couple of big picture charts to try and figure out what the yanks are doing.

Vix monthly is sitting on pretty major support so what it does from these levels is pretty important imho.



S&P 500 monthly is still nice and bullish and has some room to keep climbing but that last little run looks like a bear trap to me.



If the Vix breaks up hard from here the S&P chart is probably going to get ugly quickly. Notice how there is no sideways action on the S&P monthly? Big picture charts always seem to be trending. Either we have a small pullback and continue higher or we change trend. Even if the Vix stays in that trading range, the S&P could repeat the action of 2000-2003.