It's Monday, a new week, likely to bring more political and global drama. But through it all the stock market has held its own. If stock prices were based upon negative news headlines and bearish blogs the S&P500 would be trading 50% lower than it is today. However money does the talking, and following it has been the right choice the last eight years.... but it hasn't been a smooth ride.
Futures are pointing to a slightly higher open this morning,
Monday Morning Market News, Charts, and More
The VIX was sporting that classic head and shoulder pattern. Let's face it, head and shoulder patterns on the $SPY haven't worked out so well over the last 8 years, but the VIX? Any bearish formation usually resolves as planned for the VIX. As such yesterdays recovery... would it follow through today? I posted this chart in the chat room:
Markets rallied on Thursday, with the S&P closing up .37%,