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A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Thursday, October 16, 2008

10 day 10 minute graphs...

The VIX has formed a cup with a handle over the last 5 days retracing back to the 61.8% Fibonacci line. Failure will result in the VIX testing the recent lows.
The major indices have bounced and made a higher low but are still beneath the 200 EMA. It is interesting how this almost exactly correlates to a fib line on the $INDU.
The SPY battled back to the 200 EMA but sold off at the end of the day...
And the real battleground in the QQQQ was sold off hard on the close.
Oh to be a trader......

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