09/21/2009 After Bell Quick Summary


Cobra's Market View Private Messaging System shows:


I don’t see any usual tricks today. By taking a quick look at my chart book, I found the following 2 interesting charts:

A black bar was formed on the VIX daily chart which seems not very friendly to bears as 8 out of 10 times on the chart when a black bar was formed the VIX retreated further in the following days.

VIXDaily

SPX 60 min cycle, 2 cycles are due for the next 2 trading days. This could mean that we’re very close to a turning point. Whether it’s up or down, I have no idea.

SPX60minCycle

A chart from Uempel as follow up for the discussion about Long Term Trend Line:

SPX1070

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