VIX chart watch!!

4/9/09

Are we getting close to another climax run for market? Going up or down. The VIX chart is an indication for floor traders to see how volatility trading in market. It is moving inverted compare to S&P index. Time will tell what we are going. One sure thing is it is getting very close to make a turn.

Intermediate Term High met?!

4/7/09

Finally, it seems market bulls are running out of stream to go up. CPCE chart is almost making signal change as indicate market has reached intermediate term high. The above S&P index chart is showing 20 & 50 EMA get compressing together in round 800 number. This is very strong support for ongoing bulls. Let's see if it can provide good pullback entry point for this Bear market bounce.

Short term overbought again!

4/5/09

CPCE chart can determine when it would be intermediate term high. However, we are not there yet and rally continue. Technical does give me an edge but it does not mean it is 100% accurate. Also, We are in phase 2 of this bear market which is giant fake bear rally. Actually, it is normal action if you can see last recession or last bear market. It means major stock market indexes can rebounce to its 200 days moving average before next major down legs begin. The last phase of this bear market would be scarer than last Sept to March of this year. Be careful.