Slow Stochastics still overbought and look to be curling over. Volume has been tapering off.
Sharp bearish rising wedge looks to break soon on SPY.
The VIX closed at resistance/support while spending most of the day above it. With it not closing above support, this leaves tomorrow somewhat dubious on direction. The rising wedge could experience a false break out to the top, or we could have a failed e leg.
Intermediate term we are still down.
Thursday, September 9, 2010
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