EWZuber
1,373 posts
msg #60263
- Ignore EWZuber |
3/7/2008 6:03:01 AM
VIX looks like it could go as high as 28, I suspect that would bring on some relief, IMO. Seems likely it won't hold long though with Weekly and Daily Charts in distribution.
COMP Hourly Chart is very oversold. VIX at 28 would probably bury the stochastic oscillator and W%R.
Longer term Daily and Weekly Index charts looking very bearish.
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nikoschopen
2,824 posts
msg #60264
- Ignore nikoschopen |
3/7/2008 9:00:53 AM
The worse-than-expected jobs number sent the futures market plunging in the aftermath. Now seems to be stabilizing ahead of the opening of the stock market.
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nikoschopen
2,824 posts
msg #60265
- Ignore nikoschopen |
3/7/2008 9:11:56 AM
For VIX, have you noticed that it's registering a ascending triangle on the 2-year chart? It's anybody's guess hat would happen once it breaks out, but it sure ain't gonna look pretty.
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nikoschopen
2,824 posts
msg #60267
- Ignore nikoschopen |
3/7/2008 10:05:46 AM
I'm getting a strong urge to sell this morning rally on bad jobs number. Go figure!
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EWZuber
1,373 posts
msg #60270
- Ignore EWZuber |
3/7/2008 10:33:44 AM
Market charts look really bad. VIX is in accumulation phases (or positive half of the cycle) in M/W/D charts with the Weekly Chart just beginning a new positive half of the cycle.
VIX is going much higher LT.
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EWZuber
1,373 posts
msg #60271
- Ignore EWZuber |
3/7/2008 10:36:09 AM
VIX hit 28.50 this morning and that was a ST top. Its coming down to test it's 10 HR.MA as support this should be interesting.
JAS about break even now.
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EWZuber
1,373 posts
msg #60272
- Ignore EWZuber
modified |
3/7/2008 10:45:20 AM
Closed JAS at 14.74. Average was 14.72. Looked like some resistance at 14.75 so called it good.
Got a better price than I thought. Actaually made a couple bucks on it.
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EWZuber
1,373 posts
msg #60275
- Ignore EWZuber |
3/7/2008 10:57:27 AM
A little bounce off the VIX 10 HR.MA, it looks like it may not hold though.
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johnpaulca
12,036 posts
msg #60276
- Ignore johnpaulca |
3/7/2008 11:03:54 AM
ZUB...it touched my upper BBands for support as I said yesterday...It will probably stay around here for the rest of the day or move a little higher...imo
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nikoschopen
2,824 posts
msg #60277
- Ignore nikoschopen |
3/7/2008 11:18:01 AM
Trend reversal clearly defined (rather refined for the better IMO). Don't get sucked into this, well, sucker rally.
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