Thursday, March 26, 2009

Bull showing signs of tireness


All the signs remain perfectly on the bull side except the pattern of VOLUME (see chart) and VIX below 40. If the volume on SP500 went further down then I will be taking 1/2 of my position on SSO off the table. And if the market went below 5% under 50 day MA I will be out fully (I will show these numbers in my transactions table on the left). We will see if those people who are excited about the long side of the market are showing up to work and actually putting money into the market and not just talking about it on the bubble vision aka CNBC. As for me I don't have opinions about which way the market will decide to go. I only can surmise from the action that the market is more likely to go up right now even with an untested resistance around 840 and a tested resistance at around 880.

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