Thursday, February 10, 2011

More weakness appears

I have to stay with this theme above.. We have the spx+vix up today = down Friday (75% of time it works). Still watching this fractal, not the close, but the range, as history rarely repeats.
Watch spx 1313.63, then 1302.83 on a close basis.
The weakness I see: The % of stocks above there 50dsma is getting weaker as we rally. This is a different event since Aug. I have marked off a few dates with a line that could be a catalyst.
Some one said to me today I think 1300 holds, but the more I think about it, if not, a panic will unfold. I do have 1212 down the road but I have higher numbers too.Price is KING for direction.

Click any image to enlarge. Speaking of what is different look at rates climb. Some thing is a miss Watson. Other than above comments the trend is UP.

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