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Tuesday, October 26, 2010

Tuesday updates

It is Do or Die time now for the BKX, as it is now testing FINAL support from the long-term bullish Fib fan. This has been the most reliable Fib fan chart I have ever done, and a chart I have been sharing for the last year. It has been remarkable how many times the Fans have been respected in this chart.
Click here for a live, and updated chart!!!
7:45, The SPX finally dropped out of the shorter-term dark green bullish Fib fan from this years low, but is being supported by the gray bullish fan from the most recent low. A solid break below this fan would be bearish for the SPX.

7:37, The VIX opened gap up, but still needs a break-out of the trendline, and to print a higher high above 21.59 to go bullish, other-wise, the VIX will continue printing lower-lows as the trend remains bearish.

7:31, The bears seem incapable of producing lower lows and that is keeping the short-term trend bullish until they can start printing some.

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