China Throws the Market a Bone

And, of course, the algos are eating it up. VIX finally dropped below its SMA10… …and, ES finally pushed above its.The biggest story from a charting standpoint, however, is the Dow. As we discussed on Tuesday, it has the opportunity to complete an Inverted Head & Shoulders pattern at 26,360 this morning. Given where the futures are, keep an eye on this important test.