SPX technical update – breaking to the wave 5 lows

Markets dropped below the supports- the SPX counts a daily 9, hence 3-4 lower closes required target 770-800.
The VIX counts a daily 12 as well, putting a high alert with one more high to go.

I assume with SPX is going below 839 selling pressure will increase – on TV they say lighter volume – I see much higher volume traded.

More later, PPT defense working well so far 🙂 but the market back up – 45 min to go

Advertisements

~ by behindthematrix on October 23, 2008.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: