Monday, September 27, 2010

09/27/10 update

SPY touched the red resistance line and formed a dark cloud cover bearish reversal pattern. This is among the more reliable of candlestick patterns.
VIX closed near the 20ma. MACD histo looks like it may be turning back up.
BPSPX:CPC 20ma has crossed the 50ma moving up. Normally this is where you would go long, except that everything is now peaking. The 20ma spent a minimal amount of time below the 50 and I expect it will spend a minimal amount of time above the 50 before turning back down.
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