Thursday, December 31, 2009

Happy New Year!

Bearish ascending wedge formed. I expect another run up to the upper trendline before this one breaks.
BPSPX:CPC ma's need to cross again before another large bet is made. This will not happen until after P3 has started.
VIX is in the middle of the wedge but in the lower porition of the BB. I expect it to bounce off the lower trendline before breaking the wedge up.

I will not be posting again till Sunday, so happy new year!

PS: By run up I mean Thursday and Monday potentially...then its downhill for the market.
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