Wednesday, September 29, 2010

09/29/10 Update

Looks like we really don't want to pierce that red resistance area. So what point of view do you prescribe to? Coiling up for a move up? or running out of steam from the last move up? My view is the latter as the move has had an upward bias since mid September. Typically a move up is preceded by trading in a channel with a slight downward bias.
VIX closed above the 20MA...
That should be it for the BPSPX:CPC. We will see soon enough.
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