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Tuesday, January 18, 2011
8:11, The VIX is on track to register a buy signal at today's close, as long as it remains with-in the Bollinger bands. Friday's close had the VIX outside of the bands, normally when they are recaptured, a reversal happens. Resistance from the 20 day MA is at 16.88.
"Gann360" dropped off another great chart last night, a NDX daily time cycle chart, NICE!!!
Click here for a live, and updated chart!!!
The Steve Jobs news has had little effect on the SPX, with the Nasdaq 100 down only 0.37%, the biggie this morning is Citi, down 4.87%, dragging BKX down 1.44%.
The bears need an impulse wave down to develop on the SPX, other-wise the trend is going to continue to be up. Two of the largest report after hours, AAPL, and GS, before the open tomorrow, it will be interesting to see if investors sell the news and start profit taking.