Monday, October 27, 2008


Can't really be surprised about the last-half hour meltdown. This is a disaster for the market because the initial support level is now broken and October 10's low is the abosolute last level remaining. There are no more short-term support levels remaining. Technically, if you count the bodies and not the shadows, we broke down a long time ago. Doesn't look good for the market at this point.

S&P 500 1-day

S&P 500 3-day

S&P 500 10-day

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Anonymous said...

Here comes the carry trade right on time, here comes the carry trade coming down the line.

Anonymous said...

Is it time to buy CHK?

John C. Lee said...

still in a tri, wait for clear direction