Monday, October 3, 2011

Lowest Close Of The Last Two Months 10/03/11

I thought that the market had a good chance to stay above S1, but the afternoon market broke through S1 support. This is the lowest close of the last two months. This is bearish.

We have a VIX over 40, which some say indicates that the low is close. However, sometimes the market stays in bearish territory for a good 8 months after the VIX climbs above 40.


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