Tuesday, April 7, 2009
By Hedge Ly | 4/07/2009 07:14:00 PM |
If you look back to my posts on Friday of this past week you will notice how the chart for the Dow was looking for a break out. The break out has failed and we are now in a period of low volume price decay. If you look at the volume indicators you notice volume is all but half it was during the peak of last month. IF one were to surmise a guess as to where we trade from here, my guess is down. If you take a look at the blue uptrend line which the price has stayed above so far you will notice the candle for today is holding strong. Tomorrow will be the knee knocker too see if we fall. i think we fall all week. Im currently long FAS puts. i do see the VIX rising a bit http://http//finance.yahoo.com/q/bc?s=%5EVIX&t=3m&l=on&z=m&q=l&c The VIX is holding support at 40.