Wednesday, September 9, 2015

Sept 9 - Midday update - SPY fading

We still need to wait to see if buyers step in after this gap fill but if things hold slightly positive we might be setting up for a move down based on the action in VIX and the shorter time frames.  Sell signals on 30/ 60 min frames in SPY and buy signal on the VIX hourly.  Getting more volume than yesterday but nothing spectacular.

If the gap fill doesn't bounce up towards the open, this might be a failed breakout.
 Sold off right at resistance
 VIX still hanging in there but if we clear resistance or consolidate much longer it will probably break down out of this wedge.


1 comment:

tellzhang said...

some how I am bullish at this point..maybe I am brain washed..