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Post Market Analysis, Wednesday January 20

|Includes: DIA, IWM, QQQ, SPDR S&P 500 Trust ETF (SPY), XLF

 We have a mixture of bullish and bearish signals today. SPY broke down out of the rising wedge formation on the daily chart. However, SPY also held up in the high base formation on the daily chart. Volume was relatively strong today, so on a sell off, that is an ominous sign. The VIX popped up over 6%, but closed well off of its highs and well under 20. The TICK and TRIN both corroborated today's action well.


Check your Bloomberg Economic Calender for reports that could potentially move the markets tomorrow. Also, check out Chart Game if you get the chance. It's a fantastic practice tool. Thanks for being a part of! Always trade with a stop loss and manage your risk appropriately. 


Happy Trading,