THE DOT - if this turns orange or red be alert

Wednesday, March 3, 2010

Comp update - Defcon 2 for bulls

As I had written a few weeks ago the Comp is one of the few likely to make new highs before we can start a real bear campaign. We have reached the final stage as we need 20 more points to go to reach those target. Weekly Seq count already at 13 but the Combo needs at least one new weekly high above 2315 to complete the mission. At the same time we ideally need to dive to the 16 VIX level as we have reached 18.5 for now. For longs its time to fade out as shorts can slowly start to build positions with approx. a week to go many other counts are at weekly 12s yet. Be alert

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