Tuesday, November 4, 2008


We gapped up huge today and we just drifted throughout the day. The market started to show weakness as the VIX rebounded off of the 50-day MA. That came as a surprised because I didn't think we would breakdown that fast. At 3:30PM, we see that the market re-entered into consolidation after a brief breakdown. The S&P 500 is now above 1,000. There is resistance at approx. 1008-1010.

SPX 1-day

SPX 3-day

SPX 10-day

SPX 6-month

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