Thursday, March 12, 2009

IMVHO We turn tomorrow.

SPX at top of rising wedge and all indicators in the cheap seats. I'm thinking 5-3-5 to the top of 4 at 774 and we're due to pop off some steam. We're at a good resistance point.

Oh, how bout that falling wedge on the VIX? 60m indicators topping out, but dailys still look good. Don't get to excited about this reversal. This is not the big one. That will happen next week.
Good luck and keep your powder dry for 5.5 down.
UPDATE: I added target lines on the charts at stockcharts. Thanks.

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