Wednesday, September 3, 2008

Trading for 09.03.2008

Argh, once again I've got a busy day so can't dive deep into analysis here. One thing to keep an eye on is my VIX gauge (you can see it under my live charts). The VIX has confirmed a short signal for the markets.
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4 comments:

Zen said...

XLF has flagged to its pivot point of $21.72. I think it will failt and move from here to its trendline or 5 day MA down at around 20.95.

September 3, 2008 at 10:20 AM
Zen said...

If things play out as they look, XLF will test its 5 day MA/trendline or somewhere thereabouts down at 20.90 - 21.00. SPY will probably test support at 126.5. The VIX will then move down from there to test its trendline.

It is possible that the VIX goes to its trendline from here but I don't think things will be that smooth.

September 3, 2008 at 10:49 AM
Zen said...

Notice SPY wrestling with its prior downtrend line (you can see it in my public chart list)

September 3, 2008 at 10:49 AM
Zen said...

I just realized I goofed the PP numbers last night.

You can find the correct values on the charts.

September 3, 2008 at 1:08 PM

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