Close:
NQ goes up and closes the gap, but that is as far as we get. NDX ends the day below its 200 dma for the first time in nine trading days. SPX closed a hair above 1276, but ES after-hours has fallen below that threshold. Bears are in charge, one wonders how much lower can the VIX go under these conditions. Bonds are still negative but that money is going to commodities it seems. The bond and VIX drop could be bullish divergences, this is why I prefer to day trade this mess at this stage of the game. There is still a chance of a waterfall decline tomorrow, so don't play hero.
NQ goes up and closes the gap, but that is as far as we get. NDX ends the day below its 200 dma for the first time in nine trading days. SPX closed a hair above 1276, but ES after-hours has fallen below that threshold. Bears are in charge, one wonders how much lower can the VIX go under these conditions. Bonds are still negative but that money is going to commodities it seems. The bond and VIX drop could be bullish divergences, this is why I prefer to day trade this mess at this stage of the game. There is still a chance of a waterfall decline tomorrow, so don't play hero.
This entry was posted
on Thursday, August 21, 2008 at 8/21/2008 08:27:00 PM.
You can skip to the end and leave a response.
» Post a Comment