Wednesday, December 29, 2010

12/29/10 Update....WOW

Wow...look at that move up from late August, there is barely any retrace. Here we are getting ready to move into the New Year and the market as a whole is peaking out. Volume is dropping, but then again volume is always low around the holidays. We should see a good retrace 1st quarter, but is it a retrace or the beginning of P3 (is it ever gonna come).
VIX spiked much more than the market and is now diverging. Option volatility is now rising as more people buy insurance at these lofty levels. Still its low and no one is really scared.
BPSPX:CPC's 20MA is still pointing straight up. It has managed not to curl over in these past 4 months, which is quite a feat.

Sunday, December 12, 2010

12/12/10 Update

Was that finally a reversal candle on the VIX daily? VIX is in nothing to worry about range...from which typically "Oh craps!" are launched.
I waited a whole week for the BPSPX to turn...and it did not...everyday we maintained above the 20ma. I am looking for a down turn still, but with the holidays upon us this is typically an up/maintain level period.

Sunday, December 5, 2010

12/05/10 Update

SPY looks to have doubled topped with the daily stochs diverging a bit.
VIX looks to be at resistance and looks to be ready to rebound up. Note the trend from mid October in the MACD. Definitely looks like a turn around point.
BPSPX:CPC has been unable to achieve its previous highs. A turn around here is in Monday/this week.