maxreturn
745 posts
msg #60129
- Ignore maxreturn |
3/3/2008 1:00:51 PM
Agree with ZUB. I like to plot the VIX with 200 period bollinger bands. Last few major selloffs in the markets have coincided with VIX making multiple week lows, then bouncing off the 200ma. STILL, until support of 131.73 is broken decisively on the SPY we're still in a range on the daily charts boys.
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nikoschopen
2,824 posts
msg #60130
- Ignore nikoschopen |
3/3/2008 1:06:12 PM
I dunno, Max. Earlier in my trading careerI used to follow VIX religiously. But I have since come to a conclusion that there are better indicators when it comes to actually pocketing money.
At any rate, there might be another slight pop within the next hour before making another drop.
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EWZuber
1,373 posts
msg #60132
- Ignore EWZuber |
3/3/2008 1:29:39 PM
I agree. VIX testing the 10 HR.MA now.
COMP Daily Chart is solidly within a distribution phase.
MSFT has already lost todays intraday support.
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EWZuber
1,373 posts
msg #60133
- Ignore EWZuber |
3/3/2008 1:54:12 PM
Just noticed that COMP bounced dead off of the 50 MO.MA today at 2254.
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nikoschopen
2,824 posts
msg #60134
- Ignore nikoschopen |
3/3/2008 1:59:43 PM
That's the bounce I was alluding to. It should head lower from here.
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nikoschopen
2,824 posts
msg #60137
- Ignore nikoschopen |
3/3/2008 2:37:45 PM
On a 5-min chart, bulls & bears are going head to head. Presumably, bears are gaining the upper hand.
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EWZuber
1,373 posts
msg #60138
- Ignore EWZuber |
3/3/2008 2:53:51 PM
VIX bounced up off of the 10 HR.MA and the COMP made a subsequent drop.
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EWZuber
1,373 posts
msg #60139
- Ignore EWZuber |
3/3/2008 2:58:47 PM
COMP is on its way to at least 2200, IMO.
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nikoschopen
2,824 posts
msg #60140
- Ignore nikoschopen |
3/3/2008 3:02:54 PM
bear raid looks increasing tired...a possible bounce from here.
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nikoschopen
2,824 posts
msg #60142
- Ignore nikoschopen |
3/3/2008 3:13:58 PM
Price action is quite messy, which is typical prior to a trend reversal (at least for the next 30-minutes or so, if we can get that far).
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