Wednesday, February 24, 2010

A new minute [ii] high? or has [iii] started...

Is there a new minute[ii] high in the works? If so its likely to be in the dotted resistance band shown in the chart above. Another possibility is that minute[ii] is over and we are finishing (ii) of [iii].
Did the VIX bounce off the lower BB or does it require another bounce before proceeding to new highs? Hard to tell at the moment as today appeared to be an inside day.

The rest of the week shall be interesting with jobless claims tomorrow and GDP on Friday. Jobless claims has established a rising trend again.
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