How will Asian markets react to the World Bank report tonight? That will be interesting.
If it's a non-event, that makes a good case for the bulls.
If the Asian markets sink tonight, hold on to your seats.
I may break a rule of mine on this and hold it overnight tonight.
BTW, in addition to the VIX, I mentioned last week to watch the 20,50 and 200 DMA of S&P after seeing the DOW break under and now the NAZ break under support.
Technically speaking, (and any chartists are welcome to respond) we are now crossing back into bear territory.
The Bulls were praying their Golden Cross arrived (20 DMA crossing the 200 DMA).
Take a look at what's happening.
This breakdown of support is a really negtive indicator.
Not to mention some really screwed up fundamentals in play.
I'm looking at the force index on SPY. It is signaling a breakdown in the SP500. Another negative trading session (tomorrow) means the big money will sit out until they sense a reversal. Xinhua looks bad tonight. Computer trading programs on Tuesday may do a big dump. Watch for price action on POT. If it makes another -5% drop without bargain hunters jumping in, then the end of the world is upon us.
I stop making any comments about the market ever since it went crazy, I started shorting a few weeks too early and got burned, and too many times, I was stupid enough not to follow my 8% cut loss rule, I hid away for a while to lick my wounds and finally got back in last week, now I am just starting to crawl slowly back into positive territory.
Comments? I am too scared to make any, let's see what the Fed is going to say this week, let's they don't give out signals that it is open seasons for the bears again.
lol, looks like it, but now I am taking my eyes off the market, I always have the problem off taking profit too early when I am constantly watching, going to learn from my mistake this time.
I am currently holding tightly onto my SRS and FAZ.