The last three days formed a bearish Advance Block candlestick formation. This means today is likely a reversal.
Vix held the red trend line so far...so bears have a chance...but if it breaks we are headed to 1050.
Tuesday, July 28, 2009
Still holding...
The last three days formed a bearish Advance Block candlestick formation. This means today is likely a reversal.Vix held the red trend line so far...so bears have a chance...but if it breaks we are headed to 1050.
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Not to mention an RSI (chart on my blog) that should spook any longs at this point. I am short as of 980 and adding at 965-968. However, if 982.5 gets taken out I would hedge.
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