Tuesday, April 21, 2009

The auto repair update...

Sitting here getting new tires and alignment...even Tire Kingdom has wifi! Anyway we have broken out of the wedge with a thrust. Also the Vix is getting ready to break out of the top of its bullish falling wedge.
VIX:SPX has busted out of its bullish falling wedge and ended yesterday right at its 200 dma. Today it gapped above it and is using the 200 as support.

Still looking at 760's as the target. Will have to be careful around there as that could be the bounce point or just a consolidation area before a move to new lows. We won't really know till we get there and might not know even when we are there.