Thursday, May 21, 2009

Communication Breakdown?

Looks like we have a breakdown in the market as the SPX goes below the 20 day MA for the first time since March 11th. This breaks a key resistance level but the market is not closed yet. A close below 885 and a confirmation on Friday would signal that it is safe to short again.

VIX is closing in on the 20 day MA also for the first time since mid-March. Fundamentals are overtaking hope.

1 comment:

  1. Nice thread

    You came up on my WIKI wire w/ this one....big time!! hehee

    check out my last entry