Monday, March 1, 2010

60m SPX And VIX Ending Triangles

Sorry I missed this morning. I'm not feeling all that well and slept in.

Here is a quick post that I will elaborate more on in the Morning Post tomorrow. Simple triangle formations ending on the SPX and VIX. Is this the end of 2 of 1 of 3 and we have a pretty strong 3rd wave down staring us in the face? All measurements at this time call for an initial drop to end near the last bottom at 1044.

SPX 60m - I am throwing out an expanded chart with the last triangle call that worked so well (that so few believed). That one took forever to happen as the throw over lasted almost three weeks. With this smaller triangle, I do not expect anything as drawn out, but am cautioning about the possibility of a throw over. I have not given up on my 5.3.5 fantasy call at this time (ending 1 of 5 here), but the indicators are saying this could be the top of this move (never discount the power of manipulation!). The daily's are toppy setting possible divergences, but they still have some room to run if they want.
VIX 60m -