I would have thought that today would be a big-time reversal day; new moon, indeed, lunar new year (Chinese), etc.
Me too, but I am glad it's holding on...maybe we see pullback sometime this week then another attempt for a high around the 14th? Would like to see it hold up into the 14th, where there is a nice turn date...would like to see it work this time...a lot of the turns have not been working because of the bullish aspects...so we will see....
So, do you think $VIX will hold support and turn up or do u think $VIX will break down?
My composite trend signal remains up.
My summation index signal is down but trade above Friday's highs would effectively null any statistical edge it provides.
Bottom line is the trend is up, but I am getting technical hints that a corrective move is in the percolator.
I am sticking with the trend for now but watching for a good sell setup.
TraderGirl wrote:Transports...We need to see this support bust...
Now that u mention TRAN
Stochastics (I use 7/3, second panel) on TRAN weekly (LONG TERM) is highest (overbought) it has been since b4 2009 (pink circles)
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
I would have thought that today would be a big-time reversal day; new moon, indeed, lunar new year (Chinese), etc.
Me too, but I am glad it's holding on...maybe we see pullback sometime this week then another attempt for a high around the 14th? Would like to see it hold up into the 14th, where there is a nice turn date...would like to see it work this time...a lot of the turns have not been working because of the bullish aspects...so we will see....
So, do you think $VIX will hold support and turn up or do u think $VIX will break down?
TraderGirl wrote:Transports...We need to see this support bust...
Now that u mention TRAN
Stochastics (I use 7/3, second panel) on TRAN weekly (LONG TERM) is highest (overbought) it has been since b4 2009 (pink circles)
The chart is bullish biased. higher low indeed but the rebound thereafter is not strong enough but not weak, so I'll give it bullish biased.
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