Friday, September 3, 2010
Addendum to Friday's Addendum
Okay, this should be the last post for the weekend but this is important so I wanted to point it out. The daily VIX chart shows a very good bearish setup for stocks. The VIX closed today beneath the lower bollinger band which sets up a bearish signal for stocks. Once the VIX rallies to close back above that lower bollinger band, the signal will be executed and most likely within a day or two the stock market should fall.
So despite the EWP structure not being too friendly to us in the Dow, S&P and Nasdaqs, the various other technical indicators I've mentioned here today are well positioned for a big selloff to occur next week.
Okay, I'm all done. Good bye!
PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.