PM update:
New lows. We now have a 9 to 1 NYSE down volume day. This is an extreme, so mind your step if short. The VIX is now at the 200 monthly ema, a level that was rarely reached the past four years. This is not an invitation to gamble, but an understanding that we usually get powerful rallies after days like this.
Watch NQ 1972, 50 dma and trendline support.
New lows. We now have a 9 to 1 NYSE down volume day. This is an extreme, so mind your step if short. The VIX is now at the 200 monthly ema, a level that was rarely reached the past four years. This is not an invitation to gamble, but an understanding that we usually get powerful rallies after days like this.
Watch NQ 1972, 50 dma and trendline support.
This entry was posted
on Thursday, July 26, 2007 at 7/26/2007 01:04:00 PM.
You can skip to the end and leave a response.
» Post a Comment