ctdtrading.com

I originally posted this chart on Mar 7…here's the updated version.  1260 right now looks like a double bottom (intraday Mar16).  If it holds it's very positive.  But If it breaks, 1230 area looks like support.  On the Other hand, if the 1260 level holds, it will be another 2 months atleast for the rally to regain it's uptrend.  Any attempt to rally will now have the 50 day MA acting as resistance.  So, I expect sideways trading (if 1260 holds).  

The VIX

I've mentioned watching the VIX (Fear guage) for spikes.  Since the broad market rally of sep 2010 til feb 2011, VIX was at it's lowest level since 2008 high (89).  Right now it's not even close to the most recent high of 48.  Could we get there? certainly possible.  Depends how quick Japan recovers from it's nuclear crisis..  

This entry was posted on Wednesday, March 16th, 2011 at 2:14 pm and is filed under Financial Markets/History, Original Articles, Trading, market commentary. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.