- SOX is forming a bearish head and shoulders. I’m a big fan of technology leading market rallies and it can never be good when the semi’s are this weak.
- Financials look like they are on their way to the 2009 lows, after being rejected at the 38.2% fib.
- The Dollar looks like it’s consolidating before making another run. Lately a rising dollar has been bad for the general markets.
- Where’s the fear? The VIX has basically been tracking it’s 10 day moving average and just today it closed down nearly 6% below it. I’d like to see this get 12-15% above it’s 10 day ma, which would signal rising fear. We haven’t had that one big flush out to signify any sort of market bottom.
More Posts by this author
Top Growth Stocks for For 2012 (Part 1)
“Partners in Crime”
Market Is Correcting Intraday
Support For Nasdaq Is Near 2600
Where’s The Leadership?
Trend Trading Adjustment
Buy The Next Dip, But Hold Shorts
| . |
Post Written By: Zen Trader
|
Disclaimer: This article is for informational purposes only and does not constitute financial advice. We are not financial professionals. The authors and/or site operators may hold positions in the companies or assets mentioned. Always do your own research before making financial decisions.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.