I completely agree with the setup. I think we will break above the trend line trapping Bulls thinking that breakout is coming and then close below the trend line and continue to go down. 20d and 50d will be broken but by not much may be 2-3 points

http://blogs.barrons.com/focusonfunds/2011/03/21/volatilitys-whipsaw-vix-falls-30-in-3-days-right-after-jumping-46/?mod=yahoobarrons

CHGS is somehow involved in MCP,REE,AVL,SHZ all going on Rare Earth momentum

Adding salt to injury

http://www.zerohedge.com/article/jpmorgan-likelihood-portuguese-government-will-fall-week-looks-high

MACD about to roll over on 60 min chart

http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=1&dy=15&i=p84063659240&a=191856806&r=9598

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.

Todays trading will show the true nature of the market. Mostly based on the fact that today was the first time during the last several trading days when we have neither gapped up or Down

It completely depends on the Headline news that market is reacting to.

Anyway my thinking

1. Unrest in Middle east is getting worst. Yemen and Bahrain next. What is the stand of US on these countries?

2. Portugal is close to bankrupt, nothing changed there either

3. Rain in Japan is having 25 times more radiation particles than normal conditions.

4. Today mornings data of Home sale was completely ignored which came in Negative

Well the list goes on. Nothing has changed from last week.EXCEPT Libya was attacked by UN coalition + AT&T buying TMO. Is that the driving factor for this rally?

Only Uncle Ben can answer those questions. till then ' Respect the Trend'

Hate the days when Futures Gap up and then a straight line for the whole day. Need some spice

any rally on a 5 min chart seems to have stopped exactly at 260 ma

http://stockcharts.com/c-sc/sc?s=$SPX&p=5&yr=0&mn=0&dy=10&i=p62296685506&a=191852609&r=2468

Yes 9:31 local time there was an earth quake showing on japan TV. no confirmation yet on intensity

WOW futures taking a dive. No Bid for USD-JPY causing it to tumble to all time low

Thanks Kobie. I thought the length would be taken from the bottom of the bounce which started at 1262 and ended at 1262

SPX Head and Shoulder 5min chart today and yesterday

LS and RS at 1280  and Top at 1287

Break below 1262  can take this to 1237

Inverse Head and Shoulder on SPX 1 Min chart last 1 hour..break above 1268 will lead to 1274

FED CANCELS POMO????

http://www.zerohedge.com/article/fed-cancels-pomo

UCO is the one I follow

WOW feels like Oct 2007 again. Futures are down 35+ now, should have held VXX going into close yesterday :-)

Solars are on fire to upside as safe future energy resource following uranium attack

US U. OF MICHIGAN CONFIDENCE FOR MARCH (P) FALLS TO 68.2 VERSUS FORECAST OF 76.3; confidence was 77.5 in February.