Breakdown Ahead? The stock market has been stuck in a trading range for quite a while now. So far it has neither broke out higher nor broke down but with the trading range constricting and the VIX rising now would seem to be a good time to review the Major Market Charts for signs of either an impending breakout higher or perhaps more likely in my opinion breakdown. If it continues to trade as it has these last few months then the VIX will turn back downward on Monday leaving the current action as nothing more than consolidation. If however the VIX continues to rise then a more severe correction will be in the works. Here are the Major Market Charts:
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