Monday, September 13, 2010

09/13/10 Update

Price Chart is very bullish. We have an inverted H&S pattern that has formed as well as a rising triangle (Connect the H and R with a trendline). The H&S target is actually at about 125. The 01/10 highs at around 114 should offer strong resistance.
The VIX closed sharply lower and correct any negative divergences from Friday.
BPSPX:CPC is still saying sell...If the 20MA crosses above 50MA moving up, its time to get out of short positions.
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