SPX turned around for today at the support area with Tech leading turning positive at the end - by the way BTK ( Biotech ) could be a hero sector this year they are just fighting with the 200 daily MA on the upside but that's a story we will look for tomorrow. VIX came also down heading again for the 40 area which we should test sometime next week. You remember we need to test the 35-38 area before we can go into the capitulation mode very likely in March. Todays price action supports the astrological situation clearly as they start to align this WE very positively for the markets. The odds are rising after this mini reversal that the scenario is on.
Thursday, February 12, 2009
SPX - defence saved the day :)
SPX turned around for today at the support area with Tech leading turning positive at the end - by the way BTK ( Biotech ) could be a hero sector this year they are just fighting with the 200 daily MA on the upside but that's a story we will look for tomorrow. VIX came also down heading again for the 40 area which we should test sometime next week. You remember we need to test the 35-38 area before we can go into the capitulation mode very likely in March. Todays price action supports the astrological situation clearly as they start to align this WE very positively for the markets. The odds are rising after this mini reversal that the scenario is on.
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