07/10/2008 Market Recap (Orderly Retreat)

Posted by Yong Pan | Jul 10, 2008 | Free Contents | 0 |

I still don't see the bottom. Forget all the arguments about whether VIX must spike or not bofore market bottoms, let's just use a very simple standard: take a look at chart 1.0.0 S&P 500 Large Cap Index, so far I don't see any sell off lasting 3 days in a row. This is an orderly retreat, I'd be very surprised if the market is bottomed from here.

5.2.0 Energy Select Sector SPDR, up 3.07% today, wow, but not good for the overall market.

0.0.8 TRINQ Trading Setup

80% chances QQQQ will close down tomorrow.

Trader's Calendar

Major U.S. Economic Reports are HERE
04/01: Apr 1st day, Down & S&P up 21 of 29
04/15: OE "Monday", Dow down 11 of 19
04/19: OE Day, Dow down 6 of 10
05/01: May 1st day, S&P up 18 of 26
05/01: FOMC

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