02/10/2010 After Bell Quick Summary


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One trick today, when both VIX and SPX closed in red on the same day, 18 out of 24 times (75%) recently a green day the next day.

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Bearish Thursday? The setup according to the past, does imply a bloody day tomorrow. I’m not sure though as people are saying that because there’s no bullish Monday this week, so neither bearish Thursday will be. Well, I sure hope so.

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The bottom line, the daily candlesticks pattern on lots of charts don’t look good and I still think the last Friday’s low is to thin to stand on itself, so there has to be another test, at least a low that is lower than the Monday’s low. At the same time, yes, I do see lots of bottom signals, so perhaps it’s not the time to bet heavily on either bull or bear.

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