Market Breakdown or Shakeout?
August 5, 2011
Katie Stockton over at MKM Patners is a Technician that I have a ton of respect for and have mentioned here on Allstarcharts in the past. Today on CNBC she discussed the importance of the 1250 level in the S&P and how the high readings in the Volatility Index ($VIX) are impacting the markets.
What she's talking about here is not for short term traders of course. But for longer term players, taking a step back and really looking at what is going on is very important:
Source:
Market Breakdown or Shakeout (CNBC)