Sunday, April 12, 2009

This weekend was far more busy than I anticipated. Tax time crept up on me again :-P. I am still working on documenting out the various e-wave charts that seem plausible at this juncture. Expect something this week. So friday we took a little trip to the top of the wedge. As this is basically the third touch of the upper trendline, I really expect it to break down soon. Stochs are basically overbought on all time frames. MACD is showing a negative divergence in the chart above.

We jumped to the lower trendline on the VIX:SPX, this should be about it. The vix should turn around now and start heading back to the upper trend line and more than likely explode out.