#1 - We form a double-bottom right off the 900 level, despite the terrible Employment Situation report and we head up to at least 20-day MA resistance. The VIX fails the 20-day MA resistance and falls back towards the 50-day MA.
-or-
#2 - We break 900 and we automatically head straight to 840-850 where the last support level is located before we make a new low. 900 appears to be a strong support area, but then again, fear is just as strong.
The Employment Situation report: 8:30AM EST
SPX 1-day
SPX 3-day
SPX 10-day
1 comment:
That last bear's picture makes the cartoon bears seem really tame! Bears in control for 2 days now. awch.
Post a Comment