That is strange? The dollar really isn’t going anywhere, which leads me to believe this sell off isn’t based on fear or a flight to safety. That should mean that we will probably find a bottom somewhere today and rally from it tomorrow and the next few days.
While this sell off is nice, I’m not betting the farm on it continue down and breaking the large rising wedge. That 1311-1313 level is the lower trendline for that wedge. I think it will hold and bounce from there. It might not hit it today, but instead hit it in the morning tomorrow.
euro/usd seems to be strangely quiet today??/ hmmm – whats yer thoughts on that – it seems we SHOULD be seeing a little more volatility and flight to safety in the usd///? hmmmm….
Huge FP on the upside just got printed
That is strange? The dollar really isn’t going anywhere, which leads me to believe this sell off isn’t based on fear or a flight to safety. That should mean that we will probably find a bottom somewhere today and rally from it tomorrow and the next few days.
While this sell off is nice, I’m not betting the farm on it continue down and breaking the large rising wedge. That 1311-1313 level is the lower trendline for that wedge. I think it will hold and bounce from there. It might not hit it today, but instead hit it in the morning tomorrow.
red,
euro/usd seems to be strangely quiet today??/ hmmm – whats yer thoughts on that – it seems we SHOULD be seeing a little more volatility and flight to safety in the usd///? hmmmm….
SPX Chart: http://niftychartsandpatterns.blogspot.com/2011/02/spx-chart-analysis.html
Lots of air below Bears 🙂 heheheh
Lots of air below Bears 🙂 heheheh
weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee broke 1320 now is resistance
weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee broke 1320 now is resistance
Yes Jim… what was your rule of thumb on the percentage of a continuation if the vix moves so much in one day?
We have not seen the vix swing 20% in a long time. Not sure if it will stay w/ a big POMO but there is some serious selling hitting this am.