04 February 2013

SP 500 and NDX Futures Daily Charts - Correctamundo

The equity markets corrected today after an extremely overbought run up last week, marked by an obtuse interpretation of the Non-Farm Payrolls report on Friday.

The NDX took it on the chin, but the SP 500 hung stubbornly on to the more aggressive uptrend.

VIX climbed, but did not give any definite signal.

Let's see if this was just a correction, a one day wonder, or something more substantial.