Tuesday, July 28, 2009

Still holding...

The last three days formed a bearish Advance Block candlestick formation. This means today is likely a reversal.
Vix held the red trend line so far...so bears have a chance...but if it breaks we are headed to 1050.

1 comments:

Elliott Wave Trader said...

Not to mention an RSI (chart on my blog) that should spook any longs at this point. I am short as of 980 and adding at 965-968. However, if 982.5 gets taken out I would hedge.