Thursday, September 9, 2010

09/09/10 update

Slow Stochastics still overbought and look to be curling over. Volume has been tapering off.
Sharp bearish rising wedge looks to break soon on SPY.
The VIX closed at resistance/support while spending most of the day above it. With it not closing above support, this leaves tomorrow somewhat dubious on direction. The rising wedge could experience a false break out to the top, or we could have a failed e leg.
Intermediate term we are still down.
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