For the week . . . Qs up .75%, IWM up 1.7% and SPY down .8%. Good earnings reports on the NDX majors led the Qs bounce while ongoing doubts about the viability of the retail and financial sectors contributed to SPY weakness.
The dollar made a 1.5% jump for the week and is now sitting on a triple top pattern extending back to September. Looking technically overbought, the UUP is best left alone for the short term until we receive either a confirmation or reversal of the current upslope pattern.
The VXX and VIX LR30 daily channels remain downslope with some evidence of deteriorating mid-panel technicals. Expecting low volume and consolidation to be the mode for the coming (shortened) week with a mild bullish seasonal bias likely to play out.
The VXX Dashboard is providing no new entries as of Friday's close, although we did manage to scrape off some nice one day gains last week with the style box.
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