EWZuber
1,373 posts
msg #60275
- Ignore EWZuber |
3/7/2008 10:57:27 AM
A little bounce off the VIX 10 HR.MA, it looks like it may not hold though.
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johnpaulca
12,036 posts
msg #60276
- Ignore johnpaulca |
3/7/2008 11:03:54 AM
ZUB...it touched my upper BBands for support as I said yesterday...It will probably stay around here for the rest of the day or move a little higher...imo
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nikoschopen
2,824 posts
msg #60277
- Ignore nikoschopen |
3/7/2008 11:18:01 AM
Trend reversal clearly defined (rather refined for the better IMO). Don't get sucked into this, well, sucker rally.
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EWZuber
1,373 posts
msg #60278
- Ignore EWZuber |
3/7/2008 11:18:43 AM
john, you may be right. VIX bounced again this hour and the 15 HR.MA is now in an uptrend with the 25 HR.MA flat.
COMP meanwhile has tested it's 10 HR.MA as resistance and it bounced down, confirming it as resistance for now. Looks like this will be a shorting opportunity.
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nikoschopen
2,824 posts
msg #60279
- Ignore nikoschopen |
3/7/2008 11:57:25 AM
The price action looking bit messy on the 5-min chart, indicating a possible reversal, which is very typical in a thinly traded lunchtime doldrum, albeit not a major one in my opinion.
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nikoschopen
2,824 posts
msg #60281
- Ignore nikoschopen |
3/7/2008 12:40:41 PM
W-pattern emerging on the 5-min chart with a tail.
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nikoschopen
2,824 posts
msg #60282
- Ignore nikoschopen |
3/7/2008 12:43:10 PM
Sure enough, S&P kicking up lots of dust almost instantly.
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nikoschopen
2,824 posts
msg #60284
- Ignore nikoschopen |
3/7/2008 12:55:49 PM
However, we're still in a bear territory. The downtrend remains in effect until proven otherwise.
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EWZuber
1,373 posts
msg #60286
- Ignore EWZuber
modified |
3/7/2008 1:23:46 PM
Bought some QID earlier but closed it as the Q's revisited the mornings low.
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nikoschopen
2,824 posts
msg #60287
- Ignore nikoschopen |
3/7/2008 1:40:57 PM
Trend has yet again reversed to downside. If this sticks, we could see some ugly fall in the afternoon. Hold ure breath!
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