VIX divergence

Higher close on the SPX, but Mr VIX is not playing ball with a matching new low - classic topping behaviour, unless the market makers can erase this divergence sharpish. A very nice Elliott wave too on the 10 min last 4 days.

EURJPY - Broken Neck

I was watching this head & shoulders pattern on the EURJPY last night, waiting to see if it would break - and then I went to bed as I was falling asleep!

Guess I'll have to wait to see if it retests...

GBPCHF - Range-bound

Essentially range-bound for the last few days, looks to be coiling as evidenced by the bunching MAs; should be an interesting move whichever way it breaks.

GBPEUR - Harbinger of Euro Weakness

Naturally this is just one possible interpretation of the tea leaves, but the potential for a turn is there all the same.

Bonus chart - USDJPY:

DJIA channel

Interesting to note we are still in a channel that kept the action through most of primary wave 2 all in 2009 and this year, albeit we are now back in the bottom half and bumping up against the mid line.

Close-up:

SPX:VIX - Glass Ceiling

So, we bump up against the underside of the long-term trend once more - and on a new moon to boot - chart says we should have a decent throw at a sell-off from here - but how much longer will it climb the underside of this trend?

SPX:VIX on StockCharts

All Hail Steve Jobs

What a success story Apple is - does anyone not like them? I just look at the legs from 1998, 2003 and 2009 with awe.

I've painted a wedge on here, but there are only two touches on the lower line and it doesn't hold much water because of that; this could easily morph into a channel upon an eventual correction occurring. From the upper line (which has more to commend it), it looks as though this one has headroom yet.

As someone much wiser than me once said, it's not when you sell, but when you buy...

AAPL monthly on Stockcharts