Enlarge any chart by clicking on it.

Unless otherwise specified, ALWAYS use the 15min chart to enter my recommended plays because
CONFIRMATION is a MUST. In other words, you need to see a 15min candlestick that CLOSES beyond
the entry point, then enter when it moves 10cents after the high/low of that candlestick.

Wednesday, November 30, 2011

VIX & SPX....... (wow!!!!!, but there is still a lot of upside potential)

With all the push up that has taken place over the past 3 days, the indicators (daily, weekly, monthly) are still far from being overbought. This is an indication of strength. I really don't care about indicators being oversold or overbought, but I find this very interesting because the tension in the market is palpable, which would have caused the indicators to move fast into overbought territory with a small rise in the market.
I'm not at all comfortable with the upside but I will trade what the charts tell me to, not what I feel (bearish) or want (bullish). I don't care which way the market goes but want a Bull market for the sake of mankind. It will really make the world a better place. But I know the world economy will go into a recession or depression. Just the bitter truth. Get your house in order.

VIX-DAILY

SPX-MONTHLY (Too bad the wild month is finally over)

SPX-DAILY

SPX-30MIN LONGER TIMEFRAME

SPX-30MIN SHORTER TIMEFRAME
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