Monday, November 3, 2008


We're still in consolidation and formed a doji day on all indices and many sectors. It's not necessarily bullish or bearish. It signals that the market is taking a breather. The 20-day MA remains as sufficient support and most stocks have not broken down and closed below that level. The VIX has followed through with the breakdown below it's 20-day MA. Thte key thing to note is a clean breakout or breakdown from the present neutral range we're in right now.

SPX 1-day

SPX 3-day

SPX 10-day

SPX 6-month
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