Live Update

Friday, February 5, 2010

02/05/2010 After Bell Quick Summary

I’m skeptic about the rebound before the close, although the hammer formed right at Fib 38.2 or for some ETFs on MA 200 does seem like a bottom pattern, but the most important factor about the bottom – the capitulation volume is missing.


So the bottom line, rebound, could be, especially when we’re facing the famous very very bullish Monday again. But don’t hurry in mocking bears again (as I saw in my forum). For months they’ve been mocked, bashed and yet they proved their virtues during the past 4 weeks and they’re definitely not finished yet. Even if bulls are lucky enough this time to be unharmed eventually, remember be thankful, after all, the battle between bulls and bears will go on and in the end most of us, no matter bulls or bears, are not the winners.


In case someone asks, what happened when both VIX and SPX closed in green the same day. Well, here’s your 55% chances a red Monday.


blog comments powered by Disqus


The information contained on this website and from any communication related to the author’s blog and chartbook is for information purposes only. The chart analysis and the market recap do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.

This websites provides third-party websites for your convenience but the author does not endorse, approve, or certify the information on other websites, nor does the author take responsibility for a part or all materials on the third-party websites which are not maintained by the author.