Tuesday, February 2, 2010

2/2 - stage 2a (but below resistance)

SPX - 38% retracement now...resistance


SPY - strong resistance? but clearly above 30ema now


XLF - higher highs


RKH - tumbled intraday


UUP - below support and 30ema


VIX - below support...back to stage 4


  • somehow, SPX got stronger yet again on light volume...
  • charts telling me that we should be long now, not short
  • but resistance and more analysis tells me that its as good an idea to be short
  • its the scary time where it can go either way now...best to wait for next move and then jump on board...my guess is that it will fall tomorrow, but that ain't worth my hard earned money nor yours...

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