Yes slightly sankaty - but it needs to get moving here fairly
soon. IMO it needs to move TODAY. So far the SPX is
consolidating right under the lower area of the resistance zone.
It will need to break above the 50 day MA to reach the higher
target around 1315.
Should the SPX fail and move down below its 9 EMA on the daily
chart that would open the door for more selling near term.
until tomorrow it seems...what news is gonna drive this market
higher today? And even if it rallies, it may be weak and
unimpressive....ok , so now that I have said that bring on a gap up
day tomorrow, lol.
Though one fellow said there was a weak cycle low today into
11.30 am so maybe now that it has past is all that is needed to
float higher?
Note the macd on the 15 is close to cycling back to
zero...nicely setting up for the rally to come?
Its really Weird how the sentiment changes so fast. Last
Wednesday VIX was screaming at 31 at high and now 20.00 low. I am
buying some calls on VIX just to be safe.
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Yes slightly sankaty - but
SPX 10
Posted by steve on 22nd of Mar 2011 at 10:50 am
Yes slightly sankaty - but it needs to get moving here fairly soon. IMO it needs to move TODAY. So far the SPX is consolidating right under the lower area of the resistance zone. It will need to break above the 50 day MA to reach the higher target around 1315.
Should the SPX fail and move down below its 9 EMA on the daily chart that would open the door for more selling near term.
Put/call low
Posted by burkmere on 22nd of Mar 2011 at 11:03 am
With put/call pretty low, I'm now skeptical of a rise to 1318 for the spx. We shall see...
SPX rally will have to wait
Posted by perthx on 22nd of Mar 2011 at 11:45 am
until tomorrow it seems...what news is gonna drive this market higher today? And even if it rallies, it may be weak and unimpressive....ok , so now that I have said that bring on a gap up day tomorrow, lol.
Though one fellow said there was a weak cycle low today into 11.30 am so maybe now that it has past is all that is needed to float higher?
Note the macd on the 15 is close to cycling back to zero...nicely setting up for the rally to come?
Its really Weird how the
Posted by simmon on 22nd of Mar 2011 at 12:02 pm
Its really Weird how the sentiment changes so fast. Last Wednesday VIX was screaming at 31 at high and now 20.00 low. I am buying some calls on VIX just to be safe.