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Monday, November 16, 2009

Monday Updates

After the Bell- Well that rally finally brought the SPX up to overbought, and closed the gap on the trendlines of resistance of the PPO, MACD, and the TRIX. Last week I warned that there might be a little more upside to go because of the gap on these indicators, gap is now closed. The VIX never did break below the trendline of support, one good sign for the bears.
Breadth was strong at the open, and diminished through-out the day, ending at 4.28:1, advancers, on average volume (5 day).
The Omen-303 new highs, and 1 new low.

SPX is close to finishing up this rally today, the MACD on the larger time frame charts is at resistance, as is the RSI.

The VIX broke down at the open, before making a spike that never hit the trendline support, and not even close to making a lower low, but moving higher, while the major indexes were making new highs. seems the VIX is not confiming the strength of the major indexes.

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