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Monday, December 13, 2010
The VIX looks to have filled the last remaining gap on the downside now just as the STO indicator is reaching extreme oversold conditions.
TNX which tracks the yield on the 10 year treasure is one of the big movers this morning, up 1.64% and moving yields to 3.35%. Results from the Trendfinder have been absolutely fabulous on this chart. Those white arrows are the buy/sell signals being generated with the system.
Click here for a live, and updated chart!!!
6:57, We did get that small move up I was expecting this morning to bring the price action and the indicators up to their respective points of resistance. All though the trend is up, I believe we are close to changing that, with a break below 1219.50, the previous lower low, will be the first sign that the up trend is in jeopardy, ultimately the break below 1176 will confirm that the larger down is down. The STO, the lower indicator is rolling over now into a sell. What little upside we get today should be short-lived.